Over recent years, there have been a few Any Answers posts relating to certain disclosures within the financial statements such as when ‘exceptional items’ are encountered and there is uncertai
Audit inspectors frequently complain about firms that undertake audit work which falls short of acceptable benchmarks, explains Steve Collings.
This is the first of two articles and relates to the completion of the external audit because this is an area that is prone to oversight, sometimes due to fee pressure or misunderstanding of th
The ‘clarified’ International Standards on Auditing (ISAs) have been with us for nearly two years. However, issues are emerging which frequently trip audit firms up – sometimes due to audit so
Big Four firm PwC is in the spotlight again over its audit of RSM Tenon during a turbulent period for the listed accountancy firm.
A common question which I am asked quite frequently is ‘how much should I be charging for an audit’ and ‘how long should it take to do an audit?’.
The FRC has criticised small firms for failing to conduct audits to a satisfactory level. Is ‘regulation overload’ to blame, or is it down to professional negligence?
Steve Collings outlines the most common weaknesses picked up during file reviews for both audit and non-audit assignments.
When it comes to regulation and compliance, a ‘them and us’ approach can only work to the detriment of practitioners, argues Steve Collings.