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Items tagged with "Audit"

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FRC publishes minimum standard for audit committees

The Financial Reporting Council (FRC) has released the Audit Committees and the External Audit: Minimum Standard, designed to enhance audit quality and reinforce public trust in the financial reporting process. The standard provides clear expectations and guidelines for audit committees within the FTSE350, supporting the delivery of high-quality audits.

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IAASB brings consultation on sustainability assurance standard forward

The International Auditing and Assurance Standards Board (IAASB) has confirmed that it will bring forward the consultation on its proposed new sustainability assurance standard, the International Standard on Sustainability Assurance™ (ISSA) 5000.

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IOSCO outlines considerations for ESG assurance

The International Organization of Securities Commissions (IOSCO) has unveiled its latest report, outlining key considerations for establishing a reliable global assurance framework for sustainability-related corporate reporting.

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IAASB agenda consultation starts – will Inline XBRL be in scope?

The International Auditing and Assurance Standards Board’s (IAASB) Proposed Strategy and Work Plan for 2024‒2027 includes a mention of exploring a new standard on XBRL.

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Guidance for block tagging in ESEF

This year European issuers filing with the European Single Electronic Format (ESEF) will be required, for the first time, to use block tagging to mark up the notes in their financial statements. This has implications, and presents certain challenges, for software providers, filers, and auditors alike.

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Monitoring Group makes progress on audit standard reform

The Monitoring Group (MG) – the international committee of regulators that oversights audit standards and ethical standards for the accounting and audit profession, has published a short report into the progress it has made so far implementing its recommended measures to strengthen the international audit system.

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FRC aims to increase audit competition

As part of the Financial Reporting Council’s (FRC) ongoing work to strengthen oversight of audit, this week it published a high-level policy paper outlining a number of recommendations to increase competition in the UK audit market.

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Tomorrow’s Accountant

On Monday, our CEO John Turner gave a talk at the World Congress of Accountants in Mumbai as part of the “Technology and the Future” session. The session concentrated on new skills and capabilities that members of the accounting and audit profession, working both in industry and in practice, will need going forward.

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India’s ICAI consults on ESG assurance standard

The Sustainability Reporting Standards Board of the Institute of Chartered Accountants of India (ICAI) has issued an exposure draft of its Standard on Sustainability Assurance Engagements (SSAE) 3000 for public comment.

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Level playing field needed? Diverse approaches hamper consistent reporting and audit across Europe

Just what is a public interest entity, or PIE? In fact, the answer can vary depending on where you are: a useful new paper from Accountancy Europe summarises the significant variation in how European nations define PIEs.

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