The Auditing Practices Board has released a new audit standard that
establishes the auditor’s responsibility in relation to the preparation of
ISA 230, which is effective for audits of accounts for periods beginning 15
June 2006 and onwards, requires the auditor to prepare documentation so that an
experienced auditor with no connection to the audit would be able to understand
the work that had been carried out, the evidence obtained, the significant
matters arising during the audit and the conclusions reached.
The standard also establishes responsibilities for the auditor to assemble
the final audit file on a timely basis, with additional requirements on
additions, deletions or modifications after the report has been dated.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process