Maintaining the momentum of reform
Article Abstract:
The Institute of Chartered Accountants in England and Wales needs to formulate policies that will further strengthen the accounting profession and sustain the momentum of change that has characterized the profession for two years. The Institute's efforts are expected to be focused on the areas of auditor independence, the effectiveness of the existing disciplinary system, and the review of the education and training system. Criticisms launched against the disciplinary system regarding its fairness must be responded to. Any changes to be undertaken in the education and training system must be attuned to the changing nature of the business environment. The Institute also hopes to provide a more open style of administration in order to enhance its role as both a professional regulating body and as a provider of services to its members.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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The future development of auditing
Article Abstract:
The Institute of Chartered Accountants in England and Wales has contributed to the reform of the auditing profession by participating in the establishment of the Auditing Practices Board (APB). The APB has recently issued a Green Paper addressing the issue of the profession's future development, which has sparked lively discussions about the redefinition of audit's role and scope. Aside from soliciting public opinion on the role and scope of auditing, the Green Paper also invites comments as the best way to increase the independence of auditors, the persons whose interests should be considered in the audit process, and audit's long-term mission. The Paper suggests radical measures, including the the creation of a structure that will organize the various aspects of the profession to improve communication and coordination.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
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Investment in the future - don't miss the boat!
Article Abstract:
The Financial Services Act of 1986 will come into effect in early 1988, empowering UK accounting firms and individual accountants to engage in 'investment business'. Each of the three Institutes of Chartered Accountants has applied to the Securities and Investments Board for authorization power over accountants and firms wishing to deal in investments. Applicant firms and individuals must indicate in which of four categories they intend to practice investment advising. There are also numerous regulations which have to be observed, such as that requiring that the main business of an accounting firm be accounting, not investing. In addition, the regulations stipulate the exact type of investment business being conducted, how investors' money is held, and the rules of conduct in investment activity.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
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