For three years in succession the KwaZulu-Natal (KZN) Department of Education has not only received qualified audit reports
but has also not managed to deal with inherent organisational challenges.
of North Texas), examining such specific topics as: current issues in European bank regulation in relation to government spending and borrowing, the relative effectiveness of qualified audit reports
as accountability mechanisms in Spain, long-range anomalies in the real return on corporate equity compared with realized returns from the real assets on corporations, stability and the recently expanded commodity futures trading in oil and gold, unintended consequences of electric power regulations requiring retail utilities to buy all the power produced by wind and solar generators linked to the grind, and evidence concerning the value of technical analysis to portfolio performance.
GCS has made a number of acquisitions over the last four fiscal years, and it has faced difficulties in integrating these businesses into its financial reporting structure, with the result that its auditors have issued qualified audit reports
in three of the last four fiscal years.
Craswell (1999) suggested that qualified audit reports
are a strong indicator that independence has not been compromised, due to the competitive nature of auditing.
Charles Tilley asks why qualified audit reports
are still accepted in the public sector ("A favourable variance", September).
CIMA has responded to the Accounting Standards Board's consultation paper, "IASB ED of a proposed IFRS for SMEs", and to the Financial Reporting Council (FRC) on its proposal to encourage the voluntary disclosure of qualified audit reports