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Items tagged with "Audit"

XBRL Certified Software approved

We’re delighted to announce that Easyx’s audit software xWizard has joined the ranks of XBRL Certified Software products.

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ESEF Audit

The introduction of the new European Single Electronic Format (ESEF) includes a set of requirements around assurance of digital disclosures – but how will “ESEF audit” actually work?

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Germany Draft national ESEF Audit Standards

Following the European Commission’s decision that the XBRL mark-up within ESEF documents must be subject to audit, Germany’s Institute der Wirtschaftsprüfer (IDW), or Institute of Public Auditors, has published draft audit standards for ESEF.

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Why Tagging Errors mean Trouble

As data digitisation and XBRL reporting continue to expand worldwide, it’s crucial that companies are reporting accurate, high-quality data. Wes Bricker, Vice Chair of XBRL International’s Board of Directors and PwC Vice Chair, US and Mexico Assurance Leader, recently wrote an article for FEI highlighting the importance of accurate XBRL tagging.

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How to Audit AI

Technology is changing the world of audit. From the systems auditors rely on to improve the accuracy of their audits, to the data (soon to include, under ESEF, XBRL tagging) that requires review, tomorrows’ auditors must know how to work digitally.

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XBRL International launches Certification for Review and Audit Software

With the increase in use of XBRL and iXBRL for company financial reports around the world, and the upcoming ESEF requirement in Europe, we’ve seen a growing demand for tools that assist with the process of reviewing XBRL reports.

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Deloitte announces Independent Audit Board

Following the UK Financial Reporting Council’s (FRC’s) recent demands for the big four audit firms to separate audit from other business practices, Deloitte has announced plans to establish an independent Audit Governance Board (AGB).

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Strengthening Audit Standard-Setting

Since 2015 the international regulatory Monitoring Group has been looking into a range of aspects associated with independence and governance around international standards for auditing with a review of the audit standard setting process.

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FCA outlines Audit Split Plans

This week the UK’s Financial Reporting Council (FRC) announced their plan for the first structural overhaul of the big four accounting firms since the failure of Carillion in 2018 prompted calls for audit regulation reform.

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ICAEW explores future of UK Audit in internal controls paper

In December 2019, Sir Donald Brydon recommended improvements to the Internal Controls over Financial Reporting (ICFR) as part of a reform agenda in UK audit. More effective ICFR could provide management and users of financial statements with better quality information and facilitate better decision-making. A new ICAEW report explores the scope of a future UK […]

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