UK: FRC chief executive on the future of auditing

The chief executive of the Financial Reporting Council, Stephen Haddrill, delivered a speech last week on the future of auditing at a conference organised by the European Commission: see here (pdf). Mr Haddrill set out his views on what is required from the auditing profession: a profession that is "... not afraid to challenge management. One that is sceptical of assertions made without apparent good foundation – that does not see its role as confirming management’s view, but identifying the truth".