AIA News
AIA
NEWS AUDIT REFORM
DISCOUNT CARD
AIA’s initial response to government consultation on UK audit reform
AIA is pleased to announce its latest partnership with TOTUM Pro powered by NUS, a discount platform designed specifically for professional qualification learners and members of recognised professional bodies. With over 200 UK discounts and thousands worldwide from both famous brands and local independents, a TOTUM Pro membership opens up a whole world of fantastic savings on everything from dining out and keeping fit to fashion retail and travel abroad. Announcing the partnership, AIA Marketing and PR Manager Carl Jepson said: “We are very pleased to be announcing this new partnership which is available to all members around the globe. “We hope our membership will take full advantage of this opportunity to access in-store and online discounts from businesses including Amazon Prime, Boots, Fender and Halfords.” AIAWORLDWIDE.COM | ISSUE 116
© Gettyimages/istockphoto
New discount card For AIA members and students
The Department for Business, Energy and Industrial Strategy (BEIS) has published a white paper “Restoring trust in audit and corporate governance” which sets out proposals to strengthen the UK’s framework for major companies and the way they are audited. The paper is the long-awaited result of three separate reviews by Sir John Kingman, Sir Donald Brydon and the Competition and Markets Authority, which sets out proposals for how companies should report on their governance and finances, how reports should be audited, changes to the audit and the audit market and the powers and role of a new regulator. As a Recognised Qualifying Body for Statutory Auditors in the UK, the AIA will be responding to the consultation in full. Whilst we welcome the depth of the reforms in tackling multiple issues with the ultimate purpose of restoring trust and public confidence in the profession, we will carefully consider the impact on our members and the businesses they support.
AIA chief executive Philip Turnbull said: “Since the start of the review process, AIA has worked with the wider profession in sharing our observations and ideas on the future shape of the audit profession and we welcome both the reviews and this comprehensive consultation. “Central to lasting and significant change is a set of reforms that will strengthen the UK’s position and restore both business confidence and public confidence in business and measures that set the UK apart in terms of audit quality, whilst ensuring that the audit profession remains an attractive career prospect. “It is vital that full consideration is given to how the reforms will affect SMEs, the lifeblood of the British economy, and the accountants that serve them. We will issue a full response that highlights the standard of the AIA professional qualification and encourages meaningful and proportionate oversight of the sector.”
5
