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Items tagged with "Audit"

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ICAI allows E-Signatures for Audit Reports

During this time of deep digital reliance, the Institute of Chartered Accountants of India (ICAI) has announced a policy change meaning that electronic signatures are permitted in order to sign audit reports and certificates for the first time. The ICAI announcement draws on the 2000 IT Act, concluding that the Act allows for electronic signatures […]

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SEC Filer Definition change adds Audit Checkbox to Cover Sheets

The US Securities and Exchange Commission (SEC) has adopted long-proposed changes to filer definitions, designed to ease the reporting burden and compliance costs for small filers. The amendments mean smaller reporting companies – those with less than $100 million in revenue – will no longer need to obtain a separate attestation of their ability to maintain […]

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FRC to Assess Climate Reporting

Climate issues seem to be… well… hot. This week the UK’s Financial Reporting Council (FRC) announced a major review of how companies and auditors assess and report on the impact of climate change. The review will assess to what extent existing reporting requirements, including recommendations for companies to report in line with the TCFD framework, are […]

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Audit of Inline XBRL: First Guidelines Published

The Committee of European Auditing Oversight Bodies (CEAOB) has published important guidance for auditors reviewing financial reports published in accordance with the new ESEF regulations.

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Survey Dives into KAMs in the Banking Sector

An Accountancy Europe survey of Key Audit Matters (KAMs) reporting has found a slight dip in the number of KAMs reported by European banks – although numbers are still significantly higher than the average for all industries. KAMs became mandatory with the new and revised auditor reporting standards which came into effect for audits of […]

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Preventing Audit Extinction

PCAOB Board Member J. Robert Brown’s speech at Data Amplified has now been published on the Audit Regulator’s website. Mr Brown urges regulators and the audit profession alike to consider the impact of potential irrelevance

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Data Amplified 2019: Governance of Reporting

John Turner, XBRL International CEO and Robert Tarola, Chair of the XBRL International Board of Directors, kicked off Wednesday morning at Data Amplified with an interesting discussion on the changing requirements for financial reporting governance in a digital reporting ecosystem. Tarola, who has an extensive background in audit, CFO, and board of director roles, demonstrated […]

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Audit set to form part of the ESEF mandate

Together with a press release marking the publication of the ESEF Regulatory Technical Standards in the Official Journal of the European Union, the European Commission published an ESEF Q&A, that provides answers to frequently asked questions. Significantly, it includes the following question and answer: 7) What kind of assurance will be provided for financial statements […]

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Auditing Non-Financial Data

For audit and accounting to build truly useful advisory services, they need to focus on more than just financial data, suggests a blogpost on the Accountancy Europe site. Wesley Shulte, from Finext, argues that moving beyond financial data will allow auditors and accountants to create valuable assessments for companies – for example, by auditing human […]

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Auditing in the AI Age

AI has led to some predicting the catastrophic demise of the audit profession – however, as robots don’t quite live up to the job-stealing hype that’s been predicted, how will the smart machine age really effect the evolution of auditing? Jillian Alderman explores the reality of audit in the AI era in an article in the Graziadio Business Review this week.

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