In a report, the International Federation of Accountants’ special task force makes suggestions to enhance transparency by opening up meetings to the public and working more closely with national standards setters, with the aim of improving the procedure of the International Auditing Practices Committee.
Manuel Sanchez y Madrid, chairman of the IAPC Review task force, said: ‘Trends in IFAC…usage of International Standards on Auditing demonstrate the need for a global set of auditing standards is gaining momentum and support.
‘With the growth of global capital markets, high quality internationally recognised auditing standards are seen to be essential for the effective and efficient functioning of the markets.’
The report can be accessed on www.ifac.org/Guidance/EXD-outstanding.tmpl
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