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Auditing Viewpoints

Viewpoints

QFINANCE viewpoints provide you with the distilled thoughts of finance leaders and experts, outlining their current thinking on the crucial issues and challenges facing finance managers, entrepreneurs and business executives. The contributions are drawn from an array of practitioners and thinkers from the world of finance and business.

  • Auditing in Volatile Markets
    by James Roberts
    There is no doubt that everything is much more fraught when markets are crashing. These circumstances make management’s life much more difficult. In a very uncertain environment, when all the figures, the key numbers for a company, are in play, it becomes particularly challenging for both management and auditors. For a start, very volatile markets create in turn a great deal of volatility in corporate balance sheets, and users of accounts do not...
  • Challenges Faced by the Audit Profession After the Crash
    by James Chadwick
    In a sense, this is part of the larger question about audit quality, which has never gone away and continues to be a perennial concern. To place this in context, the audit profession is subject to continuous review of the quality of its work. This is part of the brief of the Financial Reporting Council (FRC), which is responsible for upholding the quality of the audits of the financial statements of all companies in the United Kingdom. As such,...
  • The Audit Committee and Corporate Governance
    by Richard Wilson
    The main role of the audit committee comes down to providing delegated board oversight over financial reporting and financial risk management. Maintaining a continuing dialog with the internal and external auditors is very much a central part of the audit committee’s activities, as is its relationship with the finance director and the finance team. Understanding the way risk is identified and managed within the organization is also central....
  • Why Integrated Reporting Is The Way Ahead For All Stakeholders
    by Jonathan Labrey
    The International Integrated Reporting Council (IIRC) was founded by global leaders from the financial reporting, business, investment, and NGO communities, who agreed that a transformation in corporate reporting was essential to understand and communicate the value of companies in the 21st century.The question for the coalition was whether it was possible to develop a new model of corporate reporting that could show how a business was creating...

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