• Register
Return to: Home > News > Standards > TAC issues paper on audit acceptance

TAC issues paper on audit acceptance

The Forum of Firms Transnational Auditors Committee (TAC) has issued a best practice paper on client acceptance and continuance in the auditing sector.

The paper, Client Acceptance and Continuance, is based on the input of 14 global auditing firms and focuses on the requirements of ISQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance, and Related Services Engagements.

It details how asking more pertinent questions can enhance quality and discusses related tools firms use to strengthen the client acceptance and continuance decision-making process.

The TAC believes the paper will aid audit firms in developing policies and enhancing the quality of audits.

“Any business wishing to establish quality relationships with quality clients needs robust processes in place,” Forum of Firms chair Robert Dohrer said.

“Understanding the best practices in this area will hopefully contribute to all accounting firms being able to strengthen their approach and create more mutually beneficial auditor-client relationships—which ultimately will contribute to improved public confidence in the industry.”

 

The paper can be downloaded at here

 

 

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.