(c) Institute of Chartered Accountants of Scotland. Contact ICAS for permission to reproduce this article., Internal Auditing

Following up internal audit findings

By Alan Simpson CA Part of the role of the internal audit function is to follow up on the agreed management action plan based on the audit recommendations, and the completion timescale for implementing them. This article looks at the purpose and importance of the role of that follow-up process. Why follow up? An important… Read More Following up internal audit findings

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

CAs can help save the world

By Bruce Cartwright CA While my recent blogs have discussed the importance of the debate that’s currently engulfing UK audit, this rather fades into insignificance when we consider what’s happening to our planet. According to the IPCC we only have 12 years to restrict global warming to a 1.5° Celsius rise else we will significantly… Read More CAs can help save the world

(c) Hong Kong Institute of Certified Public Accountants. Contact HKICPA for permission to reproduce this article., Audit and Assurance

Time for change

The winds of change are blowing across the world of audit once again. A Plus looks at how the international development of standards and regulations is strengthening the profession. It seems like not a month goes by without the audit profession hitting the headlines, whether its news of financial irregularities missed by auditors, or companies… Read More Time for change

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

UK audit debate: the world is watching

By Bruce Cartwright CA Public trust was the overarching theme at this year’s World Congress of Accountants (WCOA). In fact, one of the keynotes was “The death of trust: accounting scandals that shocked the world” – sufficient to make the profession sit up and listen. It was clear from conversations taking place both on and off the… Read More UK audit debate: the world is watching

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

Audit debate off and running

By Bruce Cartwright CA, ICAS CEO Recently: The FRC has said it will review the scope of audit; The CMA has announced a market review; and The audit procurement process has been added to Sir John Kingman’s remit. ICAS welcomes these opportunities to engage in an evidence-led debate on all these inter-related subjects. I also… Read More Audit debate off and running

(c) Chartered Accountants Ireland. Contact Chartered Accountants Ireland for permission to reproduce this article., Audit and Assurance

Understanding the value of the audit

With a stream of negative news, the outlook for auditors can appear bleak at times. However, we should never lose sight of the value in the audit process. Accountants and auditors are faced with a bleak outlook. There is a constant narrative telling us that accountants and auditors are not relevant anymore; reports that investors… Read More Understanding the value of the audit