Bekymring hos det internationale revisortilsyn over standard i revision

Den internationale myndighed for nationale revisor- tilsyn, IFIAR, skriver i sin årlige redegørelse, at ”these results came from inspection reports issued during the members’ most recent annual reporting periods that ended by July 2014. The areas with most defi- ciencies in inspected audits of listed public interest entities, or public companies, relate to auditing fair value measurements; internal control testing; and re- venue recognition.The areas with most deficiencies in audits of systemically important financial institutions, including global systemically important banks and in- surers, relate to auditing of allowance for loan losses and loan impairments; internal control testing; and auditing of the valuation of investments and securi- ties. Audit firms’ own quality control systems had the highest number of inspection findings in the areas of engagement performance; independence and ethics requirements; and human resources. Inspection fin- dings related to audit engagements are deficiencies in audit procedures that indicate that the audit firm did not obtain sufficient appropriate audit evidence to support its opinion. Findings identify areas where the auditor’s performance fell below the expected level of diligence to satisfy the public interest role the audit is meant to fulfill, and that the audit failed to provide the level of assurance about the financial statements that it purported to do and that is required by professional standards.”