Joint-audit proposal: A spanner in the account books?4 min read 05 Jan 2023, 10:31 PM IST
There is little evidence to show that joint audits enhance the audit quality, which is why many countries have rejected them. Their challenges and downsides are found to outweigh benefits.
Transparency and accountability. These parameters are driving government policies worldwide, as today’s investors and other stakeholders expect efficient, time-saving and simplified processes for everything, including audits. Against this backdrop, the government’s most recent proposal of joint audits has become a subject of heated debate, as it’s not even closer to the aforementioned parameters and is in danger of creating more pressure on an already stressed existing audit framework.
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