Thursday, February 7, 2013

[aaykarbhavan] AUDITORS TO WARN COMPANY RISKS

FRC proposes requiring auditors to warn of risks
The U.K.'s Financial Reporting Council is proposing a "step change" in audit reports in which auditors will have to warn investors about the risks of the company. Auditors would have to explain how the audit scope responded to risks within the company as well as how the concept of materiality was applied.



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