Auditor/company interation in 2007 UK regulatory environment

Tony Hines, V. Beattie, Stella Fearnley

Research output: Working paper


The issue of audit quality currently sits at the top of the financial reporting policy agenda (eg, FRC, 2006a; 2007, 2008). The audit process involves interactions (ie, discussions and negotiations) between the audit team and client company directors and staff. At senior level, these interactions determine the content of the published financial statements and hence impact on the overall integrity of the financial reporting process and capital market confidence. This Briefing reports findings from a survey of the three principal parties (finance directors/chief financial officers (CFOs), audit partners (APs) and audit committee chairs (ACCs)), part of which explores their role in the audit interaction process. The data was collected between June and September 2007 and therefore relates to the current UK regulatory environment. In this Briefing we report on the extent, nature and outcomes of financial reporting interactions which took place involving the three parties.
Original languageEnglish
Place of PublicationLondon
PublisherInstitute of Chartered Accountants in England and Wales
Number of pages16
Publication statusPublished - 2008


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