PracticeAuditIFIAR 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.

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

3d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

1w Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

1w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor