By Fiona Reddan Stephen Haddrill, Chief Executive of the Financial Reporting Council, talks to Fiona Reddan about the challenge of Brexit, his commitment to high-quality regulation and the need to rethink the role of audit. Brexit is in the air. Legislative proposals to trigger Article 50 and commence the UK’s departure from the European Union… Read More Charting a course through choppy waters
By Julia Irvine Audit firms’ systems for monitoring the quality of the audits they carry out are not up to scratch, according to the Financial Reporting Council. As a result, the regulator says in its report on the principal findings of the first thematic review on audit quality monitoring, most firms only identify a relatively small… Read More Audit firms’ controls flawed
Big Four firm anticipates a rush of audit tenders following FRC consultation.
The International Ethics Standards Board for Accountants (IESBA) has embarked on a major revamp of the Code of Ethics for Professional Accountants. After 35 years and adoption or use in more than 100 jurisdictions, IESBA’s Code of Ethics for Professional Accountants is entering a new phase in its evolution, one that could have far-reaching implications.… Read More Ethics: a new path of duty
By Julia Irvine There is no case for change in the current model of audit regulation apart from the minimum necessary to implement the new Audit Directive and Regulation, ICAEW believes. Read more: http://economia.icaew.com/news/march-2015/leave-audit-regulatory-model-alone-says-icaew This article was originally published in the March 2015 issue of Economia