Audit faculty revises Towards Better Auditing

The English ICA has revamped its guidance to practitioners on how to run a ship-shape audit.

Towards Better Auditing, a 64-page booklet released this week by the institute’s audit faculty, attempts to help practitioners comply with audit regulations while meeting the expectations of firms, clients and the public. It updates an earlier pamphlet by the same name published in 1993.

Richard Bint, chairman of the faculty working party charged with the update, said the 1993 version had been ‘much admired’ by the profession, but needed to take account of regulatory changes. Bint added: ‘We have addressed the special problems of sole practitioners in a number of important areas.’

Tony Bingham, chairman of the institute’s Technical and Practical Auditing Committee, said: ‘It is important that practitioners everywhere are prepared to devote time to spreading useful ways of promoting the audit process … this booklet is part of that process.’ But he added that non-compliance with procedures referred to in the pamphlet did not necessarily indicate audit failure.

See feature, p22.