The Future of Audit - ACCA Global

accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy ... successful careers in accounting and business, with the skills required by ..... impact of data analytics, data mobility and continuous auditing.
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The Future of Audit

About ACCA ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA supports its 178,000 members and 455,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is available at: www.accaglobal.com

About Grant Thornton Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. More than 42,000 people, across over 130 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work. “Grant Thornton” refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton International Ltd (GTIL) and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please see www.GrantThornton.global for further details.

© The Association of Chartered Certified Accountants March 2016

The future of audit was discussed at a series of roundtables in China, the EU, Singapore, South Africa, the UAE, the UK and Ukraine: locations chosen to cover a range of business environments with differing characteristics. The roundtables were jointly hosted by Grant Thornton and ACCA. What follows describes the results of those discussions, some of which might be surprising.

Contents

Executive summary................................................................................................4 Introduction..............................................................................................................5

Change in environment.....................................................................................5



Change in expectations....................................................................................5



Change to auditors. ...........................................................................................5

Countries without audit are keen to invest in it..........................................6 Countries with a strong audit tradition want it to do more....................7

Who, what, why...................................................................................................7

Different users, different requirements.......