Audit firms need to develop an organisational culture that empowers auditors to consistently and courageously do the right thing.
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Calls for urgent reform of the audit sector have been growing in recent years, spurred on by a slew of high-profile audit failures. In the UK, the publication of the government’s consultation on proposed audit reforms last month brings the sector one step closer to these calls becoming reality.
The proposed changes are far-reaching, aimed at restoring trust in the audit function. They contemplate important changes to the role of the auditor which, in turn, call for a renewed focus on the organisational culture of audit firms. Audit quality can only meet community and regulatory expectations if audit firms develop and maintain a culture t
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