The headline of the article is "Regulator set to tighten up auditing after scandals" .The author of the article is Linda van Tilburg.
The author in the article touches upon the problem of auditors have expressed opinions on financial statements saying they fairly present, when they can't be relied upon. The author starts by telling the reader that when the books of corporations or the smallest company are checked, the work of the auditor is to check the numbers and identify irregularities, such as the inflated profits of Steinhoff and Tongaat Hulett. However, this happens again and again, in most cases it happens with the Big Four audit firms, EY, KMPG, PWC, and in the recent case Steinhoff and Tongaat where the audit was conducted by Deloitte. The author gives full coverage to the situation that has developed with audit firms including audit firms of the Big Four in providing reports on the financial situation in the company in which the audit is being conducted, it is necessary to tighten control methods and detect fraud and corruption.
The author comes to the conclusion that comprehensive regulation of the activities of audit firms is required, which will include several lines of inspections and exercise oversight through the financial reporting chain and may include members of the audit committee and financial directors.
I have found the article interesting because I like to read about audit.
The headline of the article is "Regulator set to tighten up auditing after scandals" .The author of the article is Linda van Tilburg.
ОтветитьУдалитьThe author in the article touches upon the problem of auditors have expressed opinions on financial statements saying they fairly present, when they can't be relied upon.
The author starts by telling the reader that when the books of corporations or the smallest company are checked, the work of the auditor is to check the numbers and identify irregularities, such as the inflated profits of Steinhoff and Tongaat Hulett. However, this happens again and again, in most cases it happens with the Big Four audit firms, EY, KMPG, PWC, and in the recent case Steinhoff and Tongaat where the audit was conducted by Deloitte.
The author gives full coverage to the situation that has developed with audit firms including audit firms of the Big Four in providing reports on the financial situation in the company in which the audit is being conducted, it is necessary to tighten control methods and detect fraud and corruption.
The author comes to the conclusion that comprehensive regulation of the activities of audit firms is required, which will include several lines of inspections and exercise oversight through the financial reporting chain and may include members of the audit committee and financial directors.
I have found the article interesting because I like to read about audit.