PracticeAuditCrunch pushes auditors into earlier client talks

Crunch pushes auditors into earlier client talks

Auditors go in early to work with clients on their books over credit crunch concerns

Auditors are meeting with clients earlier to focus on their financing
arrangements and making sure they can continue as ‘going concerns’.

The credit crunch has increased the risk of companies facing liquidity issues
and auditors were talking to clients earlier than normal to avoid any shocks,
reported the
FT.

‘For many companies there is a level of consideration we didn’t have a year
ago,’ said Deloitte national technical partner Martyn Jones.

Accountancy Age revealed
today
that firms have begun ‘summer schools’ to educate junior
auditors about warning signs to look for in failing companies.

Further reading:

Firms run ‘summer schools’ on how
to spot companies in trouble

Read
the FT’s story

Related Articles

KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

9h Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

3d Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

7d Emma Smith, Managing Editor
FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

1m Emma Smith, Managing Editor
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

1m Alia Shoaib, Reporter
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2w Alia Shoaib, Reporter
KPMG rocked by South African corruption scandal

Audit KPMG rocked by South African corruption scandal

3w Alia Shoaib, Reporter
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor