The big flaw: Auditing in crisis

Jonathan Ford, Madison Marriage  |  August 1, 2018

“… 'Accounts have always contained estimates; think of the provisions companies make against foreseeable future losses … But the un-anchoring of auditing from verifiable fact has become endemic.' … Britain has started an investigation into the effectiveness of its auditing regulator, the Financial Reporting Council. But this may be looking at the symptoms rather than the cause of the problem. That may lie in the accounting standards themselves.”

Read the full article on: Financial Times (UK)

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