The Auditing Practices Board is still working on the guidance on ‘aggressive earnings management’, of manipulation of accounts.
Jon Grant, technical director at the APB, said the guidance is on the agenda for the next board meeting and should be out shortly.
The move is hoped to prepare auditors for the imminent downturn in the economy that is widely expected to lead to increased pressures on company directors to hit targets. This in turn could lead to a manipulation of figures.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice