Published today, the report says: ‘There has been an increasing tendency for auditors to perform more non-audit services to the company they audit: for many firms, this non-audit work has become a significant part of their work.’
It continues: ‘The conflicts of interest to which this give rise are obvious; the only issue is how this is best dealt with to maintain public confidence in the audit and to ensure that auditors are not only independent, but are perceived to be rigorous and robust in their audit of a company, or indeed any entity.’
It recommends: ‘In the light of the events surrounding Robert Maxwell’s companies and the pension funds, public perception and confidence should be seen as of central importance.’
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel