Auditing reborn

Article Abstract:

Auditors run the risk of obsolescence if they do not reinvent their services. They may find themselves irrelevant to the marketplace if they fail to meet the challenges presented by increased competition, falling profits, technological innovations and broader information sources. In response, professional organizations in both the US and Canada are forming groups given the job of expanding the traditional audit/attest functions. The efforts of the AICPA and the Canadian Institute of Chartered Accountants are discussed.

Auditors, American Institute of Certified Public Accountants

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Future bound

Article Abstract:

The accounting profession must expand its assurance services business to ensure its continued survival. There are two strategies that chartered accountants can pursue to avoid obsolescence: using their expertise to provide independent assurance of available performance measures and to establish themselves as leading providers of assurance services in selected new performance measures. The Canadian Institute of Chartered Accountants has already begun studying assurance issues.

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In expert company: the era of multidisciplinary engagement teams has already arrived, but chartered accountants are still looking for some guidance

Article Abstract:

Chartered accountants face significant challenges when involved in auditing financial statements regarding subject matter about which they know very little. A number of authoritative standards have been established, but they do not address all the difficulties.

Accounting Methods

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