Breakout 4: Audit – The Role of Audit in Financial Crime in the Convergence Era
The only way forward when approaching an audit is with a 360 view in this fast paced and often chaotic world. Actively looking for the risk of material misstatement is only possible when the auditor is well informed and well armed! Furthermore, fully understanding the audited entity’s business as well as the marketplace is often the price of entry. Key learnings for this session; audit teams need to approach audits with a skeptical mindset, and, taking it one step further, some audit firms may need to change their culture to allow this to happen.