The expectation gap between what is being audited and what people believe should be audited is an ongoing issue. We believe there is a demand for enhanced corporate reporting and greater assurance and if we can meet this demand, capital markets should function more effectively and trust in business should increase.
Technology is driving many changes in how we all live, work and interact and it is critical that the audit profession keeps apace with this change and is proactive in understanding how new technology trends can transform the audit approach.
Auditing is a powerful tool in providing investor confidence in financial statements and supporting economic growth. But an expectation gap exists between what audit does and what stakeholders would like to see it do. The Audit and Assurance Faculty argues that with auditing under public scrutiny changes are necessary to enhance trust and confidence in auditing.
ICAEW's Audit and Assurance Faculty examines the future of auditing and asking how the profession needs to respond to technological development and it's impact on society and the business world?
Helpsheets prepared by ICAEW technical specialists to assist you in your day-to-day work. We offer practical advice, respond to frequently asked questions and highlight the issues you may need to consider.
Effective analysis of data must lie at the heart of internal audits if they are to remain relevant to stakeholders. To make this happen strong governance frameworks are needed on data analytics, covering four key areas: quality, talent, independence and security.
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Phil Lenton, Deloitte, will provide practical tips to help auditors make the most of extended audit reports and to give them the opportunity to communicate with shareholders and tell the story of the audit.
This resource will help preparers and users of extended auditor reports in the UK and overseas to implement and understand them.
Applying the materiality requirements in International Standards on Auditing (ISAs) can be challenging. As highlighted in inspection findings, reviews and from experience in practice, it’s an area where improvement could be made.
In this report external auditors and experts from ICAEW set out a series of recommendations for different stakeholders to play a constructive role in helping charities to demonstrate their positive impact and become more resilient and transparent.