Seeing Whats up ahead
Predicting the future of audit with certainty is impossible, but ICAEW is working to ensure that ongoing debates on this are well informed.
Audit has recently faced unprecedented levels of scrutiny. A series of high-profile corporate failures highlighted the need for fundamental change and prompted various independent reviews into reforming the audit market. There’s a lot going on, so ICAEW has created a specialist hub to help auditors keep up with progress.
“The past 18 months or so have been a turbulent time for those involved in audit in the UK,” says Nigel Sleigh-Johnson, head of financial reporting, audit and assurance. On behalf of the profession, faculty staff and volunteers have worked long and hard to inform ongoing discussions around audit by, for example, reading and responding to the various reviews that have been launched since January 2018.