Audit headaches

December 1992
Accountancy;Dec1992, Vol. 110 Issue 1192, p21
Trade Publication
This article highlights a survey conducted by the Management Information Centre on the state of auditing services in Great Britain. The survey found that small and medium-sized practices around the country are facing problems because audits are increasingly unprofitable. The survey showed that 70% find audit work uneconomic as a result of the cost of audit regulation, combined with client pressure on fees: 76.8% said that more partners and staff were spending nonchargeable time on audit regulation matters, while only 31.7% were able to pass these increased costs on to clients.


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