Audit
32% of audit chairs ‘doubt’ auditors’ financial distress detection
The research is based on an independent poll of 100 UK equity investors and 101 FTSE 350 finance directors, and a survey of 35 audit committee chairs, conducted by the CPIA.
The Centre for Public Interest Audit (CPIA), a new research and policy institute dedicated to shaping best practice and informing the future of public interest entity (PIE) audit in the UK, has found that 32% of audit committee chairs, 21% of investors, and 16% of finance directors express concerns about auditors’ ability to identify signs of financial distress or going concern issues.
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