IFIAR considers audits during credit crunch

IFIAR considers audits during credit crunch

Audit inspections and the sharing of inspection techniques remains a high priority on IFIAR's agenda

Independent audit regulators discussed the adequacy of audit evidence to
support fair value, going concern and the reliance auditors placed on
specialists, at their fourth meeting in Cape Town this week.

Audit inspections and the sharing of inspection techniques remains a high
priority on the agenda of the Independent Forum of Independent Audit Regulators,
who met in Cape Town this week.

The group, which formed last year, have now also adopted a charter which has
identified the sharing of knowledge of the audit market environment and
practical experience on regulatory activity, as a focus of their work.

IFIAR, which is chaired by the UK’s Financial Reporting Council chairman Paul
Boyle, also met with delegates of the European Commission, who participated as
observers while firms who participated in the discussions included BDO,
Deloitte, KPMG, Grant Thornton, PricewaterhouseCoopers and Ernst & Young.

IFIAR will hold its next meeting in Basel on 27-29 April 2009 at the
invitation of the Federal Audit Oversight Authority, Switzerland.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource