There is widespread consensus that the audit sector is not reaching its potential, and that previous attempts at reform have been ineffective. The impact of high quality audit goes far beyond the boardroom. As CMA Chairman Andrew Tyrie explains: “Most people will never read an auditor’s opinion on a company’s accounts. But tens of millions of people depend on robust and high-quality audits. If a company’s books aren’t properly examined, people’s jobs, pensions or savings can be at risk”.
Trust in the quality of audit underpins confidence in UK business, the money invested in listed firms by private and institutional investors, and the livelihoods of the people who work for and with the audited companies.
Joint Audit in the UK
CMA Market Review 2018
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CMA audit reform recommendations: our view
18 April 2019 The UK Competition and Markets Authority (CMA) delivered its final recommendations for reform of the UK's audit market on 18 April 2019
Audit & Assurance
Increased pressure on the need for reliable financial information has put the spotlight on audit and assurance services.