LICENSED TO AUDIT
Audit under pressure to reform
The House of Lords inquiry into the audit market is underway and the European Commission is consulting on reform for audit regulatin across the EU.
Auditors not only face proposals to change their responsibilities but law makers in Brussels are looking at ways to change the regulation of audit in a bid to improve accountability but also encourage other firms to enter the market for big audits.
While everyone values audit quality highly we must be be careful that we don’t let it deter talent. We need to guard against its commoditisation and the threat to a unitary profession
Commissioning and preparing an asset valuation for financial reporting should involve a three way dialogue between the client, valuer & auditor
As a change-agent, internal audit has a lot going for it, but many internal audit functions need to upgrade their skills.
EY has been retained as auditors of Britvic following a competitive tender process, the soft drinks company has said