[aaykarbhavan] Re: AUDITORS TO WARN COMPANY RISKS

The scope/expectations from the profession must/will change.The services of auditors professionals, who over time, acquire in depth knowledge, are certainly better equipped to opine about emerging risks/risk assessment/managements' ability for timely response to come up with effective countermeasures to ensure consistency/sustainability. Institute and neo professionals must focus for such skill sets to meet emerging opportunities . Madan Uppal

--- In aaykarbhavan@yahoogroups.com, "Ramachandran M" wrote:
>
> 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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