David Richards, president of the US Institute of Internal Auditors, has claimed that internal auditors should work more closely with external auditors when reviewing internal controls procedures.
The assistance could help reduce fees by as much as 50% because external checkers would have less testing to do, according to the Financial Times.
Big Four fees received from clients have rocketed due to compliance work, according to recent reports.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned