We have all seen the headlines about large corporate collapses and
questions about the role of the auditor, so it comes as no surprise that
auditing standards have been enhanced. However, it is an unfortunate fact that
the standards apply equally to a small charity as they do to the largest
conglomerate, so the increased regulation will affect all audits, including
those of charities.
In this article we review the changes to auditing standards and how they might
impact your charity.