The body said that the introduction of such disclaimers, first introduced by PricewaterhouseCoopers late last year, could be seen to devalue the audit and advised members to avoid using them wherever possible. It is how providing guidance on ways to limit liability without damaging the value of the audit.
The ICAEW has already stated that members should include such disclaimers in reports, but only after PwC and Ernst & Young had already initiated such proceedings.
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