A review of auditing practices.
With auditing currently under scrutiny, auditors should take care to restrict the scope of their duty of care to reduce the chances of potential claims.
The repercussions of the Enron and Worldcom scandals are still beingfelt and have led to widespread examination of auditing.
A recent report published by the Department of Trade and Industry may have
given the profession a clean bill of health but, with the Higgs report
into the role of non-executive directors and the Smith report into audit
committees, the fundamental basis on which auditors carry out their work
is under review as never before.
These problems have raised the issue of auditor
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