• Register
Return to: Home > News > Professional Bodies > ACCA calls for open and honest debate about quality of audit

ACCA calls for open and honest debate about quality of audit

The Association of Chartered Certified Accountants (ACCA) has published a guide, ‘Tenets of a quality audit’ highlighting the features that a quality audit should possess, recognising their interrelation and occasional tension.

Some of the key factors of a quality audit outlined in the guide were:

  • Thoroughness and timeliness
  • Independence while maintaining a relationship between auditor and client
  • Standardisation and autonomy
  • Delivering a holistic opinion
  • Responding to fraud
  • Transparency while remaining confidential

ACCA head of audit and assurance Andrew Gambier said: “Auditors are called on to simultaneously follow rules and judgement - which do not always align. Standard-setters also reflect this in the way they prioritise them when drafting new standards. Balancing the tensions requires extensive consultation with stakeholders, drawing on their viewpoint of the role of the audit, and the value of the process to company, stakeholder and society.”

The full guide is available to read on ACCA’s website.

 

By Joe Pickard

Top Content

    2018 Digital Accountancy forum and awards: Digital transformation

    The Accountant presents highlights from The Digital Accountancy Forum & Awards 2018 panel discussions

    read more

    2018 Digital Accountancy Forum and Awards: Tech deep dive

    The second panel session of the day saw experts discuss how new technologies should not just be seen as a threat, and could be used to improve accounting.

    read more

    Digital Accountancy Forum and Awards: The power of data

    The third panel discussion of the day saw panellists discuss some of the worries their clients have had, how to overcome them, and how data and technology are providing real business opportunities.

    read more

    Digital Accountancy Forum and Awards: The next generation

    With young people more mobile, and technology changing the industry rapidly, the final panel session of the Digital Accountancy Forum looked at how firms would need to adapt to the new reality

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.