Our March audit news!

Here is our March news…



The full link to our March newsletter can be found here



Rachel Davis re-elected!

Rachel Davis, Just Audit’s MD, is delighted to be re-elected as IPC (ICAEW Practice Committee) member representing the voice of smaller firms and continuing to work to improve communications and issues faced by member firms. Rachel has been a member of the committee since 2011 and is very much looking forward to the next 4 years.

Congratulations to the other IPC members elected in 2018: Suzanne Spicer, FCA; John Malthouse, FCA; Sophie Parkhouse, ACA; David Cleaver, FCA; David O’Keeffe, FCA and Nicole Kissun, ACA


Anti-money laundering

Here’s some valuable anti–money laundering guidance (launched last week). We consider it to be essential (and helpful) reading for all accountants and finance professionals.

Note the Suspicious Activity Reporting section – useful guidance on what you should and shouldn’t report. Also Appendix C lays out exactly what types of customer due diligence should be undertaken.


The changing future of audit

In an interesting article in ‘economia’, it has been noted that the Big 4 accountancy firms are under scrutiny for their majority market share of the audit market. The Financial Reporting Council has called for an inquiry into the case for breaking up the larger firms into separate parts.

An FRC spokesperson said “…with retendering (at 10 years) and forced rotation (at 20 years) it could mean competition for a replacement auditor involves only three of the remaining Big Four firms and in some cases fewer than this where one firm has less expertise in a particular sector,” they added.

Just Audit works with many businesses of all sizes, in the UK and across Europe. We provide a service that is 100% independent and thoroughly pragmatic. We work alongside both accountancy firms and their clients – with the key word being ‘alongside’. We retain our neutral position and value our unique position as we don’t offer accountancy services – just audit.