PracticeAuditCall for state auditors to think ahead

Call for state auditors to think ahead

State auditors to be more involved with analysing predicted financial outcomes after the US government was recently slated for misuse of funds in Iraq

The US’s top public sector auditor has called for state auditors to be more
involved with analysing predicted financial outcomes as well as scrutinising
past expenditure.

His comments came after the US government was slated recently for misuse of
funds in Iraq, UK auditors took issue with the suggestion, however.

Speaking at a CIPFA conference David M Walker, comptroller general of the US,
criticised the ‘myopia’ and ‘tunnel vision’ of US Congress as he identified a
‘large and growing’ fiscal imbalance in the US.

‘The legislative branch, which is my client, is part of the problem and needs
to be part of the solution,’ said Walker.

Scotland’s auditor general Robert Black warned: ‘There will be pressure to go
from insight to foresight, but we must avoid slipping into the futurology
business, which is not somewhere I want to go.’

Wales’ Auditor General Jeremy Colman said: ‘One of the major problems of
foresight is the nature of evidence that the audit is able to support.’

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

2d 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