PracticeAuditAPB audit proposal raises concerns

APB audit proposal raises concerns

The Auditing Practices Board proposal that half-year results are reviewed by an auditor has received less than enthusiastic responses.

Link: Audited interims on the APB agenda

The plan, put forward yesterday by former APB chairman Ian Plaistowe, is designed to give assurances to shareholders, and is already best practice amongst the FTSE 100.

But employers bodies expressed concerns over the additional costs this would involve.

Both the Confederation of British Industry and the Federation of Small Business warned the proposal might burden business unnecesarily.

A CBI spokesman told The Daily Telegraph: ‘It could impose an extra burden on companies, particularly smaller ones that don’t already do this.’

The DTI said it was ‘broadly sympathetic’ with the idea, while the issue is being addressed by the Financial Services Authority in its listings review.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

6d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

2w Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

2m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter