IAASB WELCOMES US PCAOB’S EFFORTS TO ENHANCE THE AUDITOR’S REPORT

The IAASB welcomes the release by the US PCAOB of its re-proposed auditing standard, The Auditor's Report on an Audit of Financial Statements When the...

ACCA responds IAASB’s proposal ITC to enhance audit quality

ACCA has responded to IAASB’s Invitation to Comment, Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control and Group Audits (the...

Revised UK Corporate Governance Code

The FRC has issued final draft updates to the UK Corporate Governance Code and the associated Guidance on Audit Committees to reflect forthcoming UK...

FRC highlights role of Engagement Quality Control Reviewer in overall audit...

The Financial Reporting Council issued a thematic review undertaken by its Audit Quality Review (“AQR”) team on the work performed by engagement quality control...

Audit quality and transparency key to Audit Firm Governance Code’s provisions

The FRC has issued a consultation on the provisions of the Audit Firm Governance Code, in light of its review earlier this year. The proposed...

ACCA and IIA join forces to boost internal audit industry with...

ACCA has agreed with the IIA (the Institute of Internal Auditors) to develop their Certified Internal Auditor (CIA) Challenge Exam that will be available...

Audit quality improves but further action required to address recurring issues

The FRC has published its 11th annual report on its inspections of audit quality in the UK and individual reports on five of the...

ISA 720 (Revised): ENHANCES AUDITOR FOCUS ON QUALITATIVE DISCLOSURES

The IAASB have released ISA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information. The revisions aim to clarify and increase the auditor’s involvement with “other information”—defined...

FRC publishes review of audit of banks’ loan loss provisions

The FRC's thematic report notes improvements in the quality of aspects of the audit of loan loss provisions and related IT controls. These improvements...

How to Become the Sought-After Trusted Advisor: 3 Steps to Elevating...

In many companies, internal audit is often seen as a necessary evil – a group that other departments will cooperate with because they have...

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Talend, a provider of cloud and big data integration solutions, unveiled a new version of its Talend Data Fabric platform that is optimised to...

Less than one third of businesses have made formal Brexit plans, says ICAEW

Less than one third of UK businesses (29%) have made Brexit plans, while less than one half (43%) have held meetings to discuss the...

FSB publishes statement on IFRS 17

The FSB has published a statement welcoming the new insurance contracts Standard, IFRS 17, which was issued by the IASB) in May 2017. The FSB...

Valuation of Financial Instruments

The AICPA is seeking comments from financial professionals and organisations on the valuation of financial instruments and their underlying components. The Framework is said...

ACCA: Companies must be aware of the financial impact of climate-related risk

ACCA has welcomed the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) as an important step towards the better allocation of capital,...