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Acra adopts more risk-based approach to audit inspection

It will also require firms to analyse the root causes of audit deficiencies and implement action plans
Thursday, August 28, 2014 - 06:00
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Mr Yap: firms should adopt a longer-term mindset in implementing remediation initiatives

SINGAPORE'S Accounting and Corporate Regulatory Authority (Acra) has changed the way it inspects the public accountants under its charge - making the process a more risk-based one, focused on identifying the root causes of poor audit quality. Explaining the change to its Practice Monitoring

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