The Auditing Practices Board has issued a revised protocol covering the way
in which auditors ask banks for confirmation of clients’ details, in a bid to
speed up the process.
Discussions on speeding up the process between the banks and auditors began
two years ago, following concerns that banks were tardy in handing over
confirmation details, and were putting auditors’ clients at risk of an audit
‘Obtaining confirmation of bank balances is an important source of audit
evidence, and I hope that auditors will find that the new process described in
Practice Note 16 will improve the speed and accuracy of confirmations provided
by banks,’ said APB chairman Richard Fleck.
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
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day