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
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.