Harris to Chair INSOL Panel Session

At the upcoming INSOL Channel Islands One Day seminar to be held in Guernsey on 20 June 2019, Andrea Harris will be chairing a panel titled, “A Crisis of Confidence? The Future of Audit”.

In the recent times of high profile corporate collapse, one question seems to be asked over and over again: were the auditors to blame? This is closely followed by more questions – should the auditor have identified the financial difficulties of the Company? What actually is the role of the auditor and what questions will an auditor face when their client collapses? Is there an expectation gap between what an auditor is engaged to do, what the public perceives their role is, and what the Court believes they are responsible for? Will the rest of the Big 4 follow PwC’s lead and spin off their audit practices?

There have been a number of negligence actions brought by Insolvency Practitioners against auditors in recent years in an ever changing landscape of accounting and regulatory standards. Together with her panelists, Andrea will take a look at some of the recent high profile corporate collapses and how they have heightened the light shone on auditors. The panel will consider various issues that have come out of those recent collapses, the differential of the expectation gap from the public and the Court’s perspective, and consider some of the proposed changes to audit reform to come out of the various enquiries that are being conducted.

If you would like to catch up with Andrea in Guernsey around the INSOL conference, please e-mail her at Andrea.Harris@KRyS-Global.com.