Madison Marriage
Global accounting watchdogs identified serious problems at 40 per cent of the audits they inspected last year, raising fresh concerns about the quality of work being done by the world’s largest accounting firms.
According to the International Forum of Independent Audit Regulators, accounting lapses were identified at two-fifths of the 918 audits of listed public interest entities they inspected last year.
The audit inspections focused on organisations in riskier or complex situations such as mergers or acquisitions, according to the IFIAR, whose members include 52 audit regulators around the world.
The most common issue identified by these regulators was a failure among auditor…
Read the full article at: http://www.afr.com/business/accounting/serious-problems-with-40pc-of-audits-accounting-watchdogs-20180312-h0xd3g
