AUDITOR VIEWS: WHAT IS YOUR REACTION TO THE JOINT FSA AND FRC REPORT ON THE ROLE OF THE AUDITOR?
GRAHAM CLAYWORTH | BDO
We welcome the healthy contribution to the debate. What does need to happen is for auditors, regulators, corporates and investment bodies to sit down and say ‘how do we go forward?’ and this is why I think this report is helpful.
RICHARD SEXTON | PRICEWATERHOUSECOOPERS
The audit is critical to the proper functioning of the capital markets and we are pleased that this view is shared by the FSA and FRC. Their paper challenges many aspects of current auditing practices, as set down by the regulators and standard setters, including the role of the auditor.
JOHN GRIFFITH-JONES | KPMG
Let’s welcome the broader debate. But let’s take this opportunity to debate the role of audits and auditors not in isolation but alongside the other participants in the line, focussing on what new or improved part we can play in creating a far more robust system of total assurance.