PracticeAuditAudit Quality Forum gets its own website

Audit Quality Forum gets its own website

The ICAEW has launched a new website to inform accountants and investors of the work being done to improve the quality of audit work carried out by the profession.

Link: Volunteering: make a difference

The Audit Quality Forum site went online this morning (Monday) and although details are currently sparse the institute has said that it will be used to inform stakeholder groups of the progress being made in the five areas identified and any future projects that may be undertaken.

The forum is tasked with looking at the following areas:

  • empowering shareholders to put questions to auditors of listed companies;
  • providing greater transparency around the contractual terms of the audit engagement;
  • identifying the individual partners signing audit reports;
  • exploring how letters of resignation by auditors can be made as transparent as possible; and

Considering the practical issues around the perceived lack of competition within the large listed company audit market and possible ways of enhancing choice.

‘One of the forum’s priorities should be to address a considerable mismatch in expectations about the role of auditors as perceived by the auditing and accountancy profession and the public,’ said Derek Scott, chairman of the National Association of Pension Funds’ shareholders affairs committee.

The Audit Quality Forum website can be accessed at: www.icaew.co.uk/auditquality

Related Articles

KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1w Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

2w Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

3w Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

3w Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

2m Alia Shoaib, Reporter
Deloitte to pay $149.5m over Taylor, Bean & Whitaker audit failure

Audit Deloitte to pay $149.5m over Taylor, Bean & Whitaker audit failure

2m Alia Shoaib, Reporter
Carillion inquiry: missed red flags, aggressive accounting and the pension deficit

Audit Carillion inquiry: missed red flags, aggressive accounting and the pension deficit

2m Alia Shoaib, Reporter
Deloitte’s audits of Hezbollah-linked bank to be examined by Dubai court

Audit Deloitte’s audits of Hezbollah-linked bank to be examined by Dubai court

2m Alia Shoaib, Reporter