PracticeAuditICAEW pushes for greater audit transparency

ICAEW pushes for greater audit transparency

The ICAEW is to put forward proposals to the Financial Reporting Council's Working Party that the role of the audit committee should be significantly expanded beyond its current boundaries and become more transparent.

Link: New help group for audit committees

Peter Wyman, president of the ICAEW, will outline the proposals in a speech tonight at Balliol College, Oxford. He will suggest that the audit committee should play a much great part in the appointment of auditors, their remuneration, and the provision of non-audit services.

He will also suggest that the council should periodically review whether incumbent firms should be re-appointed or replaced.

‘We believe that greater transparency about the workings of the Audit Committee will give greater confidence to shareholder and other users of accounts,’ Wyman will say.

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

5d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

2w 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

2w 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