Published: Jun 30, 2014
IFAC Response to FEE Discussion: The Future of Audit and Assurance
IFAC submitted this comment letter on FEE’s Discussion Paper, The Future of Audit and Assurance.IFAC commends FEE on issuing this discussion document. It is important for the accountancy profession to periodically take stock of and reflect upon the future of the most critical aspects of its existence. Initiatives like this highlight the need for the profession to be proactive and forward-looking, or risk having its agenda set by others.Indeed, it is much easier for the profession to say to others that they “don’t understand”, that it is all “very complex”, and thus nothing really needs to change. However, as recent experience has shown, if the accountancy profession does not take responsibility for its own future, then others—many who have a less-informed understanding of the key issues—will see it as their place to impose upon the profession from outside.
Copyright © 2016 The International Federation of Accountants (IFAC). All rights reserved.
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.