Nowadays, everyone is talking about blockchain. But what could it mean for auditors? Does the availability of unchangeable, verified information reduce the need for auditing – or just shift the focus of the auditor’s responsibilities? This article focuses on the analysis of blockchain, its use for financial and operational information and the potential impact that… Read More Blockchain: what does it mean for audit?
Agile business practices have moved beyond IT to create high-performing teams in other areas. By Oliver Rowe Like many internal functions and most business areas, Nationwide Building Society’s 80-strong internal audit team is always under pressure to do more with less or the same amount of resources, according to Eleanor Taylor. Taylor, a senior manager… Read More Introducing agile into internal audit
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
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
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
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