(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Audit and Assurance

Six big changes to quality management

In February 2019, the IAASB released exposure drafts for quality management at firm and engagement levels for public comment. This article provides an overview of the key proposed changes in the new and revised requirements By Hayley Barker Hoogwerf The outcome of the International Auditing and Assurance Standards Board’s (IAASB) quality management project will change… Read More Six big changes to quality management

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Finding the root cause in audit

Unless you understand a problem’s underlying cause, you’re unlikely to nail the solution. That’s why audit quality leaders are using root cause analysis to lift audit standards. By David Walker In 1995, a 51-year-old disabled diabetic man named Willie King checked into a Florida hospital to have a diseased leg amputated. Unfortunately, his surgeon cut… Read More Finding the root cause in audit

(c) Institute of Chartered Accountants in England and Wales. Contact ICAEW for permission to reproduce this article., Audit and Assurance

What auditors do – the scope of audit

The publication explains in simple terms what auditors do, why audits are necessary, and their current limitations. The paper will feed into the Brydon Review, but it is also intended to help directors, investors, politicians and policymakers in the UK and internationally understand the current model of UK audit. You can read this publication at… Read More What auditors do – the scope of audit

(c) Institute of Chartered Accountants of Scotland. Contact ICAS for permission to reproduce this article., Audit and Assurance

Shaping the future of audit

Mike McKeon and Michelle Mullen discuss the latest proposals for audit reform and what impact they will have on the profession. Last December, far-reaching proposals for reform in the audit market and in the governance of audit and accounting were published by the Competition and Markets Authority (CMA) and the working group under Sir John… Read More Shaping the future of audit

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Audit and Assurance, Information Technology

IT as a key audit matter

By Karlien Dempsey and Ben Marx Information technology is an integral component of most organisations’ business operations, with individuals and societies placing ever-increased reliance thereon. IT brings with it significant benefits but also significant risks which impact directly on how entities conduct business . The rapid evolution of the IT landscape, coupled with the Fourth… Read More IT as a key audit matter

(c) Institute of Chartered Accountants of Scotland. Contact ICAS for permission to reproduce this article., Audit and Assurance

Audit quality is paramount

By Bruce Cartwright Who do you trust? The 2019 Edelman trust barometer reveals that while trust in government, business, media and NGOs has declined over the last 20 years, people are placing more trust in their professional relationships. The headline takeaway of the global survey, however, is the growing trust divide. According to Edelman “the world is… Read More Audit quality is paramount