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612-822-4611
The Auditor: Quo Vadis?

The Auditor: Quo Vadis?

Paperback

AccountingBusiness GeneralGeneral Law

ISBN10: 1138496774
ISBN13: 9781138496774
Publisher: Routledge
Published: Jun 12 2018
Pages: 110
Weight: 0.29
Height: 0.27 Width: 5.06 Depth: 7.81
Language: English

The audit profession is at a tipping point. Without significant innovation in its business model, staff recruitment strategies and audit execution processes, the audit profession may not remain relevant in the 21st century. The number of claims against auditors has significantly increased over the past twenty years due to the spate of corporate and audit failures early in the 21st century (Enron, Worldcom, Parmalat, etc.). Regulation to monitor professional and ethical standards has increased, leading audit firms to feel under even more financial pressure. In addition, the investor community is calling for greater insight and foresight from auditors. These challenges, coupled with the unlimited liability regime of auditors still applicable in many jurisdictions, are making audit firms and regulators nervous as to the systemic risk of another one of the Big 4 failing.

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