Promoting internal audit's image

Article Abstract:

The publication of an Audit Panel survey concerning the client' perception of internal audit puts pressure on the auditing profession to reassess its services and upgrade its image within the organisation. While there can be no singular approach to achieve this objective due to the different situations prevailing in every organisation, there is a plan of action that can be considered for implementation. This includes assessing the capabilities of the audit set-up, identifying potential clients, promoting the services that can be of help to the client and delivering these services to the satisfaction of the client.

Management, Practice, Auditors, Internal auditing

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ICAEW to make continuing education a requirement

Article Abstract:

The English Institute of the Institute of Chartered Accountants in England and Wales will implement compulsory continuing professional education for specific categories of chartered accountants. Guidelines for structured learning, such as courses, conferences, seminars and formal home study; and unstructured learning, such as private reading and technical research, will be revised to clarify the meaning of 'structured' learning and to ensure relevance to actual work. Changes will take effect in 1993.

Planning, Education, Social policy, Accountants, Continuing education

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...But the ICAEW wants retention of the rule for local authorities

Article Abstract:

The Institute of Chartered Accountants in England and Wales (ICAEW)believes the ultra vires rule should remain applicable to local authorities, building societies, pension funds and unit trusts. The ICAEW told Bank of England's Legal Risk Review Committee that the retention of the rule is warranted since local authority charge payers expect no rewards when accepting risks. Moreover, the ICAEW opines that public companies should be granted full contractual capacity.

National commercial banks, Banking industry, Evaluation, Bank of England, Political activity, Economic policy, Ultra vires

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