Well - 50% of KPMG's audits found to be lets say wanting.... 28% of all the audits carried out by the big players found less than spectacular.
Audit is the corenerstone of business, it provides suppliers and investors with critical guideance as to trade or not with a company or buy or sell shares.
If audits cannot be trusted then there is a fundamental issue at the heart of British Business.
Time to scrap audits and bring in independent reviews. The clue is in the title, independent and a review. Not a cozy audit.....