What has been the impact of the major accounting scandals on audit?
Some large-scale accounting scandals have emerged in recent years and they’ve highlight the importance of integrity in financial reporting and accounting procedures. If irregularities exist, they can threaten the survival of organisations – both large and small – and have a wider knock-on effect in the community as a whole. At KPMG in the UK, the integrity of our processes and our people has always been central to the way we work. Our quality procedures and controls help us to ensure that we fulfil both our legal and professional obligations in providing fair and impartial audit advice. We believe our audit services offer shareholders and other interested parties an accurate and unbiased view of an organisation’s performance and a solid foundation on which commercial confidence can be based. An important element in this process is the continued development of International Accounting Standards, as discussed below.
