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.”
Mass testing programme for HGV drivers planned following France agreement
The protocol agreed with the French government will be reviewed on December 31
The video will auto-play soon8Cancel
Play now
Sign up to the Hull Live newsletter for daily updates and breaking newsInvalid EmailSomething went wrong, please try again later.
Sign up here!
When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time.
Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice
The City’s vast financial services sector benefited hugely from the creation of the euro, despite the UK not being a member. Now, a large part of that business is at risk.
Trade deal or no trade deal, the UK’s all-important financial services sector, which accounts for more than one-tenth of the UK’s tax revenues and one-fifth of its service exports, is almost certain to lose its current access to the EU market when the withdrawal agreement transition period comes to an end, on December 31. And Brussels appears to have little intention of granting the sector equivalence status any time soon.