ICAS president Sir David Tweedie warned the audit profession it had reached a “tipping point” during an online Q&A on the institute’s website last week.
With the statutory audit in the spotlight, Anne Adrain asked how the profession could regain trust and confidence in the audit process and emphasise its importance?
“I believe the audit is at a tipping point,” answered Tweedie. “The audit report at present is hopeless. It's full of who is responsible for what, and it's difficult to find the auditor's opinion. During the crisis, for several audits...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.