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.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester