Gerald Russell FCA President The future of audit Gerald Russell FCA President

What I’m going to cover The role of audit in the context of the financial crisis What are some of the issues we’ve identified Possible solutions Looking to the longer term

会长杰拉尔德·拉塞尔，资深皇家特许会计师 审计的未来 会长杰拉尔德·拉塞尔，资深皇家特许会计师

讲座内容 金融危机背景下的审计角色 我们发现的一些问题 可能的方案 长期展望

there is little evidence to suggest that auditors failed in their duties in the run up to the financial crisis Committee in UK Parliament

The financial crisis Why did the auditors not see the crisis coming? Can they be truly independent if they are being retained by their clients for both audit and non-audit services? Have they exercised the right degree of professional scepticism? Is there too much reliance on the big 4 firms – and are they too big to fail? Does the remit of the auditor need to change? Where do they fit within the governance and oversight framework?

鲜有证据显示，审计师在金融危机发生之前并未履行它们的职责 英国国会委员会

金融危机 审计师为何没有预见到危机的到来？ 如受聘向同一客户同时提供审计和非审计服务，他们能否真正保持独立性？ 他们是否运用了适当的职业怀疑？ 是否对“四大”会计公司过于依赖？他们是否大到不能倒？ 审计师的职权范围是否需要更改？ 他们在内部治理和监管框架内的位置如何？

Financial Services Faculty analysis The audit process is highly valued but audit reports are seen as compliance statements The presentation of risk information requires a fundamental review Communication between regulator and auditors needs to be improved Skilled persons’ reporting tool is underused

Our recommendations Auditors should provide assurance on new summary risk statements A guide to good practice in audit committee reporting would help improve performance Auditors should have more involvement in reporting on the front sections of annual reports There should be two-way sharing of information between supervisors and auditors Supervisors should make greater use of the skills and knowledge of auditors in performing their functions

金融服务部门分析 审计过程受到高度重视，但审计报告仅被视为规定事项说明书 风险信息报告需要进行基础评估 监管机构与审计师之间的沟通需要改进 具备熟练技能人员的报告工具未得到充分利用

ICAEW的建议 审计师应对新的风险声明摘要提供保证 审计委员会报告的良好实务指引，有助于改善业绩 审计师应更多地参与年报前期的报告工作 监管机构与审计师之间应实现双向信息共享 监管机构在履行职责时，应更加充分地利用审计师的技能和知识

Some initiatives The Bank of England & FSA draft code of practice for auditors and supervisors is a great example of how supervisors and the profession can work together to develop solutions ICAEW’s Financial Services Faculty is developing a similar document for auditors and audit committees. This initiative is being led by a working group that comprises audit committee chairs from some of the UK’s largest banks as well as representatives from the profession, the investor community and other stakeholders The Audit Quality Forum, hosted by ICAEW, brings together all the stakeholders to look at some of the longer term issues

Longer term Could there be a high-level assurance model that enabled auditors to comment succinctly on the claims that listed companies make at the front of their annual reviews? Is there a need for greater safe harbour provisions in order to enable the audit profession to be more frank about the challenges facing a typical listed entity? How can we encourage greater competition and choice given the difference in scale between the major international networks and the next tier of firms? Does the audit committee need to provide a clearer narrative on the challenges that their auditors have given behind closed doors?

一些举措 英格兰银行与英国金融服务管理局（FSA）起草了审计与监管人员实务守则，这正是监管机构与会计行业在合作制定解决方案方面的最佳例证 ICAEW的金融服务部门正在为审计师和审计委员会起草类似文件 这项举措由来自英国最大银行的审计委员会主席、行业代表、投资集团及其他相关方代表组成的工作组牵头负责 由ICAEW举办的审计质量论坛，召集了所有相关方代表，共同探讨一些更长期的问题

长期展望 能否建立一个保障级别更高的模式，以使审计师能够对上市公司在其年报前面所宣称的内容作出简洁的评述？ 有无必要强化对审计师的保护，使行业对典型上市公司所面临的挑战可以直抒胸臆？ 面对大型国际会计网络和第二梯队会计公司的规模差异，我们如何鼓励竞争、丰富选择？ 审计委员会是否需要为审计师私下提出的挑战提供更清晰的描述？

Conclusions European Union Green Paper will shape and hone the debate over the coming months Legislative proposals due in November 2011 Alongside this, continue to look at the issues and develop recommendations as to how audit should evolve Keen to hear other views and experiences as our thinking progresses

结语 未来数月，欧盟绿皮书将把讨论内容确定下来 与此同时，继续研究审计工作应如何发展的问题，并提出建议 将于2011年11月提出立法建议 与此同时，继续研究审计工作应如何发展的问题，并提出建议 在我们不断思考的过程中，积极吸取其他观点和经验