Scepticism in audit practice
‘We hope this paper will lead to a full discussion within the profession about what audit firms need to do to ensure that auditors are appropriately sceptical in practice and how companies and others can facilitate this in the interests of investors and other company stakeholders.’
Can regulators do more?
‘For regulators the starting point should be that we want the firm to have a culture which encourages individuals to make judgements and deliver the outcomes we want and that at all times we want an undertaking to act with integrity. The regulators focus should therefore be on what an unacceptable culture looks like and what outcomes that drives.’