AUDIT PROFESSION AT A CROSSROADS

摘要

ICAEW has taken a lead in the current debate about audit. However, pressure for change is increasing and continuing engagement with members - and that means not just the larger firms but all ICAEW members, including sole practitioners, who have anything to do with audit and assurance -will help advance our proactive agenda. As a profession, we should anticipate what consumers want and provide it to the best of our ability. Of course, we can't provide cast iron guarantees - which is the only outcome the consumer really wants and understands - because no one could afford them. But we should be striving to make things work to a level that is acceptable to society. There is no doubt that the audit model has to evolve in order to meet the needs of the marketplace.