PracticeAuditExternal audit special report

External audit special report

Auditors go on the offensive

external audit report cover

There is nothing so constant, they say, as change – and this certainly
applies to the audit market. It may be a good few years since the scandals of
Enron and WorldCom, but the repercussions are still being felt.

Link: to read the External Audit special report
as
a pdf, click here

The collapse of Andersen ushered in the era of the Big Four, which has pushed
hard to gain greater protection against the same fate befalling one of them.
This in turn has led to fears that choice at the top end of the market is
severely limited and calls for ways to open it up to more players. This is
without mentioning the introduction of wave after wave of regulations and
corporate guidelines that have permanently altered the relationship between
auditor and client.

A company’s audit committee has more power and more responsibility than ever
before and lead audit partners cannot stay with the same client for long periods
of time.

Soon companies will be negotiating with their audit providers over the
limitation of the firm’s liability to its client, while the firms themselves
face new threats from a new type of legal action.

This briefing will help you untangle the complex web that audit has become.
We give you the latest information on the audit choice debate, show you how to
switch audit partners in the smoothest way possible, or even change audit firms
without too much pain.

If you’re looking for advice on how to negotiate your limited liability
agreement, you can find it here, along with much more on the current state of
the audit market.

It’s the information you need right now to help make the best decisions. But
in six months time, given the nature of the audit market, it could all be
changing again.

To read all the articles individually, click below:

Audit choice: an open goal?

Committee selection: off the bench

Litigation funding: foul play

Partner rotation: tactical substitute

Liability limitation: seeing red

Tendering: a new signing

Competition: playing low-ball

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