- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Now that audit reports are beginning to disclose auditor tenure, audit committees face new pressure to give it careful consideration in retention decisions.
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Audit reports are about to get a lot longer, and companies would be wise to give financial statement users some advance warning to head off any knee-jerk reactions.
Audit committees may soon reconsider certain areas of corporate disclosure to get ahead of “critical audit matters” that will begin appearing in audit reports in 2019.
Within two weeks of gaining power, the U.K.’s newly elected Labor government has confirmed its intention to beef up the audit regulator and strengthen corporate governance.
