Big Four firm PwC is in the spotlight again over its audit of RSM Tenon during a turbulent period for the listed accountancy firm.
auditing standards
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?’.
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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?
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Steve Collings outlines the most common weaknesses picked up during file reviews for both audit and non-audit assignments.
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When it comes to regulation and compliance, a ‘them and us’ approach can only work to the detriment of practitioners, argues Steve Collings.
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