Auditing issues are not always black and white

One big question in the Quinn Insurance vs PwC case will be that of exactly what auditors are meant to do, writes Cormac Lucey.

3rd August, 2013

Just what is an audit meant to achieve? Much of the legal battle to come between the Quinn Insurance administrators and PricewaterhouseCoopers will focus on this.

Many members of the public may believe that an audit is a detailed examination to verify all the facts set out in a set of financial statements.

They may think that the audit looks at every transaction carried out by the organisation or that it judges the appropriateness of...

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