• Register
Return to: Home > News > Regulation > Fee pressure affects audit quality say auditors

Fee pressure affects audit quality say auditors

Increasing fee pressure in some countries has negatively impacted on audit quality, according to members of the International Forum of Independent Audit Regulators (IFIAR).

At the IFIAR’s April meeting, members said that exercising professional skepticism, the audit of fair values and group audits are areas where inspections have found most failings.

The meeting, formed from 34 jurisdictions, also stressed the importance of continued dialogue with investors and improvements to auditor’s reports.

The forum also agreed on a set of core principles for independent audit regulators aimed at enhancing investor protection by improving audit quality globally.

The IFIAR said its core principles will cover the structure of audit oversight, the operations of audit regulators and principles for inspection processes.

IFIAR members are not obliged to follow the core principles as they are subject to local requirements or legislation.

The next IFIAR meeting will take place in September.

Top Content

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    FASB: a quest for simpler standards

    FASB chair Russell Golden addressed the IMA 2019 Annual Conference and Expo at the Sheraton San Diego Hotel and Marina, California, on 18 June. IMA immediate former chair-emeritus Alex Eng acted as moderator. Joe Pickard reports.

    read more

    The future of audit, and how to get there

    Two recent reports peer into the future of the audit profession. One analyses what an audit should offer, while the other looks at how the audit process will be carried out. Robin Amlôt takes a closer look at both.

    read more

    EFAA elects new president, focuses on digital future

    EFAA’s new president, Salvador Marin, outlined his key priorities for the next two years at the organisation’s 2019 annual general meeting, while outgoing president Bodo Richardt offered advice. Robin Amlôt reports.

    read more


    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    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.