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By Stephen Bouvier2021-02-08T13:35:00+00:00
An extraordinary war of words has broken out between Pensions & Investment Research Consultants (PIRC) and the International Auditing and Assurance Standards Board (IAASB) over the audit standard setter’s recent consultation on how auditors handle concerns about fraud and going concern.
In a sharply worded comment letter on the proposals, PIRC chair Alan MacDougall said PIRC was “minded to recommend that shareholders vote against any accounting firm that does not publicly repudiate the assertions in this document”.
He added that any “audits conducted on that basis would be in breach of duties and contract.”
Fighting modern slavery in the Covid era
Covid-19 has exacerbated the economic conditions in which modern slavery thrives.
Global Insight reports on how work on solutions continues despite the global turmoil created by the pandemic.
Header pic: Workers who have been saved from labour exploitation and are currently working with NoCap, Sagnet s NGO. Pictures supplied courtesy of Yvan Sagnet and NoCap.
As a child growing up in Cameroon, Yvan Sagnet began dreaming about moving to Italy after becoming hooked on the Italia 90 FIFA World Cup. His dream came true when he won a scholarship to study engineering at the Polytechnic University of Turin in 2008, but quickly turned into a nightmare when he failed an exam, lost his scholarship and, at a friend s suggestion, travelled to the south of the country to try to find work.