International audit standards drive CCH software upgrade

Many smaller audit firms could face de-registration as a result of more complex international auditing standards, CCH head of software Paul Brace warned as he launched a new PROaudit program this week.

"Fifteen firms lost their audit registrations in 2004 and unless firms get to grips with International Auditing Standards (ISAs), I can see that figure increasing either voluntarily or through monitoring controls," Brace told AccountingWEB.

The audit profession faces a two-prong attack that got underway with the 2004 audit threshold increase to £5.6m.

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