Auditing news in brief

Formal consultation

on orders widening the powers of comptroller and auditor general Sir John Bourn has been launched by the Treasury. This follows recommendations of the Sharman Report on the scrutiny of government bodies and greater accountability for public funds. The proposals will see Sir John become auditor of all non-departmental public bodies.

The ICAEW has welcomed the DTI’s interim report on audit reform, citing proposals for an enhanced role for company audit committees as its ‘most important recommendation’. Backing a role for the committee in the appointment and remuneration-setting process for auditors, it said: ‘This change alone will do a great deal to improve both auditor independence and audit quality.’

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