The Third Edition of this successful text includes extensive changes, based on feedback from students and lecturers. There is a discussion of auditing and the law beyond the issue of third-party liability; and more coverage of recent developments in audit methodologies and techniques. New chapters include a survey of developments in audit automation, a discussion of the nature and development of the audit market, both in the United Kingdom and the European Union, and an assessment of the impact on auditing of the Cadbury Report on corporate governance, with particular attention to the role of audit committees. Each chapter includes questions for discussion.

The Audit Commission

The Audit Commission

The audit commission

A Brief History

Ever since the first local rates were levied in England in the early seventeenth century, the principle has been accepted that any money raised for local government purposes should have the accompanying safeguard of an external check on how that money is spent. In the early days, various bodies – centred mostly on the local justices – were established to check that no unlawful use was being made of public funds. A more organized method was introduced in 1846, when the District Audit Service was founded to examine the accounts for districts of the Poor Law Unions, the forerunners of the present system of local government in England and Wales.

Once appointed, auditors were required by law to act ...

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