Little external audit improvement post-Carillion collapse

According to a poll by ICSA: The Governance Institute and recruitment specialist The Core Partnership, just 9 percent of company secretaries surveyed think that the audit process has improved in the past year.

Respondents felt that auditors have become lazier and are pushing clients to deliver more information and format it for them to push through an algorithm. This “laziness” may partly be due to the fact that Big Four firms consider external audit as a loss leader to access better paying non-audit work. Several company secretaries said that auditors need to raise their standards. Read more...

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