Commoditisation has spurred a
shift towards offshoring audit work, but this could create unforeseen
compliance problems, reports Sarah Perrin ACA
With increasing pressure on audit fees, the offshoring of some
audit processes is a growing trend – and regulators are watching
closely. According to the UK’s Financial Reporting Council
(FRC), the amount of audit work handled by offshore locations is still
relatively small – generally less than 5% of core audit hours,
but ‘continues to increase at a significant rate’. KPMG
offshores around 5% of total audit hours to India.
‘This
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