Audit preparation

The FRC is toughening up the regulation of Britain’s biggest auditors, as the sector faces heavy criticism over a string of high-profile finance scandals.

The audit is going to undergo massive changes over the next decade — and so will those who conduct them.

Board staff called attention to some important considerations for auditors as they plan and perform audits that may be affected by the ongoing war in Ukraine.

Experts in auditing imagine the ways this core service of the profession will be radically different in a decade.

For now, it’s technology, but soon it will be more about demand from markets — and society as a whole.

The Public Company Accounting Oversight Board issued a Spotlight publication Monday containing some observations and reminders for auditing firms about relying on outside service providers for electronic audit confirmations.

Remote audits have allowed teams to increase efficiencies in the execution of the work.

Baker Tilly and Deloitte also had good quarters at the end of 2021.

Under a commission proposal, funds’ financial statements would need to be audited at least annually.

The collapse of U.K. builder Carillion four years ago is now threatening to inflict more than reputational damage on its former auditor, KPMG.