A research paper has been published by the Auditing Practices Board on audit methodologies. This research is likely to influence revisions to auditing standard SAS 300 on accounting and internal control systems.
The research draws on the experience of major UK firms, and of firms in the USA and Canada.
For businesses, the main implication is that internal controls and disciplines are likely to be regarded as more important in obtaining a clean audit report.
Available for £7.50 from ABG Professional Information, 020 7920 8991.
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