ICAEW wants auditors' private discussions to be public
Body writes to financial regulators
The ICAEW wants auditors to reveal their private discussions with clients,
the
Financial
Times reports.
The body, which represents accountants across the country, said it wants to
make private conversations public. The proposals will inform a joint Financial
Services Authority and the Financial Reporting Council guidance due this month.
Auditors have been privately canvassing the idea of allowing an investor
representative to fill an “extra seat at the table” during private internal
discussions with audit committees.
The FRC will also investigate the value of audit in a discussion paper to be
released later in the year.
Further reading:
Auditors
to reveal bank talks under new plans?
Investor
confronts auditors on reform