In a speech given at the European Commission conference on financial reporting and auditing today, Stephen Haddrill, chief executive of the UK Financial Reporting Council, said, that it is high time to close the gap between what audit does and what users expect from an audit of the financial statements. According to Mr Haddrill investors must be given more information about the prospects of the company and a better picture of the future of the business and of the judgements made in the course of the preparation of the financial statements.
See full Press Release.
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