Auditing practices get timely overhaul
Auditing practices have been given some spit and polish just before the House of Lords' reveals its findings on the role of auditors during the financial crisis.
Auditing practices have been given some spit and polish just before the House of Lords' reveals its findings on the role of auditors during the financial crisis.
AUDITING PRACTICE guidelines have received a makeover, shortly before the House of Lords issues its proclamation on the role of auditors in the banking crisis.
The Auditing Practices Board has revised the rules governing the audit of banks and building societies, focusing on accounting estimates and impairment provisions.
Extra guidance on bilateral meetings between auditors and the FSA has been offered by the APB. Chairman Richard Fleck said the time is “opportune” to polish up the guidance on areas “that were identified as being of particular interest in the credit crisis”.
More about:
The numbers you crunch tell a story. Your expertis...
13yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe proposed changes will bring UK and Ireland standards into line with corresponding standards issued by IAASB Read More...
View articleAuditors have been asked to go back to basics and think about whether doubt and trust are absolute concepts! Read More...
View articleAccountancy Age delves into the eccentric but emotional APB report, pleading with auditors to inject scepticism into their role Read More...
View articleFRC publishes paper urging auditors to consider the original philosophy and principles of auditing - scepticism Read More...
View articleThe APB has issued new guidance on central government audit for the Republic of Ireland Read More...
View articleGuidance on the audit of friendly societies has been given a wash and brush up by the Auditing Practices Board Read More...
View articleExtended audit service up for review; sources suggest Audit Inspection Unit satisfied with what it found Read More...
View articleFirms hit back at suggestions that more scepticism is needed in their work Read More...
View article