Audit and assurance
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ICAS calls for LCE audit standard
Anne Adrain, ICAS Head of Sustainability and Assurance, summarises the main revisions to the UK Going Concern standard.
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Audit should be part of holistic review
ICAS has submitted its response to the CMA on the large company audit market in the UK. Our response to Sir John Kingman’s review of the FRC and previous ICAS publications informed our submission. Our key messages to the FRC are set out below.
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FRC publishes full text of revised Financial Reporting Standards
The FRC published the full text of FRS 102 and FRS 105 in September 2024.
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Centre for Public Interest Audit established
The Centre for Public Interest Audit was incorporated in June to bring together auditors from across the profession to shape best practice and inform the future of PIE audit in the UK.
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Reminder on ISA (UK) 600 Revised on group audits
ISA (UK) 600 Revised becomes effective for audits of group financial statements for periods beginning on or after December 15, 2023. The revised standard deals with the special considerations that apply to a group audit.
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FRC Annual Review of Audit Quality
The FRC has published its annual review of audit quality. This provides an overview of its assessment of quality among the Tier 1 firms, which are those with the largest share of the UK PIE audit market.
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ESEF tagging of accounts
Big changes come into effect for listed entities with effect from 1 January 2020 with a new EU requirement for accounts to be published in electronic format.
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10 computer-hacker terms
Hacking with the objective of financial gain or some subversive political motive is very topical.
