The second report in the ICAEW's Audit Insights series focuses on the manufacturing sector. It has been drafted by a group of audit experts from the larger audit firms based on their many years’ combined experience working with manufacturing clients across the UK and internationally, and based on their current involvement in planning and delivering audits in the sector.

Their sketch of the sector landscape is highlighted by carefully chosen flags, marking out the most immediate areas of interest. With so much focus on a perceived need to rebalance the UK’s economy away from financial services and towards manufacturing, this report could also provide policy makers with a helpful steer on the major challenges and opportunities for the sector.

This report seeks to explore issues that may not have reached an audience outside the manufacturing sector, and to bring forward the trends and issues that interest the auditors and affect every manufacturing stakeholder.