PracticeAuditAudit: News in brief

Audit: News in brief

The Public Audit Forum has criticised many public bodies for not making the most of the advantages that accruals accounting can offer.

The forum has released a paper that it hopes will highlight the benefits that can be achieved through accruals accounting. Titled ‘The Whole Truth: Or Why Accruals Accounting Means Better Management’, the paper says that improved performance and financial information available to public sector managers from accruals accounting can contribute to better management and delivery of services.

The Auditing Practices Board is asking for comment from the profession on the recent issue of three exposure drafts from the International Audit and Assurance Standards Board relating to new audit standards.

The drafts relate to assessing the risk of material mis-statement, procedures in response to assessed risk and audit evidence.

The board said the proposals represent a significant change to international standards but should not represent a major change to an audit firms’ methodologies.

Those wishing to respond can contact the ASB until the 28 February, 2003.

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