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January 2, 2012

ICAEW launches website on role of audit

The UK Institute of Chartered Accountants in England and Wales (ICAEW) has launched a website, True and Fair, for non-accountants explaining the purpose of audit and the role of auditors.

The ICAEW said the website aims to provide objective information that will improve the understanding of audit, a service relied upon by investors and the wider business community but often misunderstood or overlooked.

ICAEW’s head of its audit and assurance faculty Henry Irving said: “because audit can be quite technical, and demands specialist skills, it is sometimes seen as something only accountants are interested in.

“But the reality is that investors, customers, suppliers, and many other stakeholders are all affected by changes to the audit market.”

The website will enable the public to ask questions related to audit and receive answers.

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