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Manser: is the time right for managed shared audit?

As the consultation on the future of audit closes, Peter Manser, head of audit and assurance at Kreston Reeves LLP, argues that managed shared audit needs careful consideration but could open up much-needed competition among audit firms

The government’s proposals for audit reform are part of their initiative to ‘restore trust in audit and corporate governance’. Audit is one strand, along with corporate reporting and corporate governance including the role of a new audit regulator.

As a mid-tier network, Kreston International supports the bigger picture concept that trust in corporate reporting involves auditing and corporate governance and the work of the regulator over auditors, directors and companies.

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