On audit update courses that Insight Training have run during the Autumn, there has been much discussion about bank confirmations. The withdrawal of the FRC’s Practice Note 16 will lead to more flexibility of audit approach in this area. But the Patisserie Valerie case, where £20M of borrowings materialised that no-one was aware of, will
Insight Training’s Peter Herbert discusses some IFRS 9 issues in our recent Adobe Connect update webinar.
It’s been a tough period for the audit profession, with a number of the bigger firms hitting the headlines for all the wrong reasons. A recurring theme in a number of the cases has been independence and objectivity, and compliance with the Financial Reporting Council’s (FRC) Ethical Standard (ES). Here are seven key themes, all