ICAEW wants auditors' private discussions to be public
Body writes to financial regulators
Body writes to financial regulators
The ICAEW wants auditors to reveal their private discussions with clients,
the
Financial
Times reports.
The body, which represents accountants across the country, said it wants to
make private conversations public. The proposals will inform a joint Financial
Services Authority and the Financial Reporting Council guidance due this month.
Auditors have been privately canvassing the idea of allowing an investor
representative to fill an “extra seat at the table” during private internal
discussions with audit committees.
The FRC will also investigate the value of audit in a discussion paper to be
released later in the year.
Further reading:
Auditors
to reveal bank talks under new plans?
Investor
confronts auditors on reform
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe standards will become effective for periods commencing on or after 1 January 2024 Read More...
View articleFollowing the release of the Brydon report, in which Sir Donald Brydon has made 64 recommendations on how to improve the troubled UK audit industry, A...
View articleMichael Izza, ICAEW’s Chief Executive, said that the industry is facing ‘a watershed moment’ as auditors come under heavy scrutiny and criticism over ...
View articleThe Charity Commission for England and Wales has accused some auditors of ‘letting the profession and charities down’, after the sample of 296 chariti...
View articlePwC’s newly-announced audit reforms are “unacceptable” and “do not appear to go far enough”, according to Professor Prem Sikka and the CMA Read More...
View articleAt the ICAEW Information for Better Markets conference, some new suggestions were added to the ideas on the table for reforming the sector Read More...
View articleAs the CMA prepares to release its study on the market for statutory audit, we look at the options for change which are getting more support from prof...
View articleIAASB has recently released their largely supported consultation proposals on ISA 315 Read More...
View article