Katharine Bagshaw

Katharine Bagshaw

Katharine Bagshaw FCA is a chartered accountant and technical author specialising in audit and a member of the ICAEW and IFAC SMP committee. She is a regular contributor to Croner-i eCPD®.

Audit / Would a UK Sarbanes-Oxley improve director accountability?

Reform of the UK audit market is long overdue with the tripartite Kingman, Brydon and CMA reviews still not implemented. Katharine Bagshaw FCA asks whether a UK version of Sarbanes-Oxley (SOX) would work with its harsh penalties for lack of corporate oversight 

Audit / Joint audits: double the trouble?

In the wake of the ongoing audit reform inquiries, Katharine Bagshaw FCA unpicks the pros and cons of mandatory joint and shared audits in the UK, asking whether the lack of viable alternatives will force an unwelcome political solution

Audit / ISA 500 audit evidence review must not be over engineered

Attempts by the IAASB to amend ISA 500, the audit evidence standard, the very fundamentals of how auditors gather and assess evidence, must be right first time as technology and regulator oversight is putting the audit profession under scrutiny, argues Katharine Bagshaw FCA

Audit / Audit and quality management: ISQM 2 – part 3

In the third part of our series on reforms to auditing standards, Katharine Bagshaw FCA examines the exposure draft on International Standard on Quality Management (ISQM 2) Engagement Quality Reviews, including its applicability for smaller firms

Audit / Audit and quality management: ISA 220, ISQM 1 – part 2

In the second part of our series on reforms to auditing standards, Katharine Bagshaw FCA examines proposed changes to ISA 220 Quality Management for an Audit of Financial Statements and the introduction of the first quality management standard for auditors, ISQM 1, currently out for consultation by the International Auditing and Assurance Standards Board (IAASB)

Audit / Audit and quality management: changes to auditing standards - part 1

In the first in a four-part series, Katharine Bagshaw FCA considers quality management of audits and looks ahead to three new standards due to go out for consultation in 2019

Audit / The future of auditing: a cluttered horizon

Katharine Bagshaw FCA examines the future of auditing in light of a raft of UK investigations into quality, purpose and independence, the Monitoring Group's proposals to overhaul the international audit standard setters, and attempts to modernise auditing standards in an age of cross-border, digital multinational businesses, not to mention the audit needs of smaller entities

Accounting / Revising the risk assessment: ISA 315

Katherine Bagshaw FCA examines some the many long-standing issues of ISA 315, Identifying and Assessing the Risks of Material Misstatement, and what the Exposure Draft of the revised standard improves upon

Audit / Audit materiality, judgments and adjusted errors

Katherine Bagshaw FCA examines the Financial Reporting Council's (FRC) latest audit quality thematic review of materiality and talks to key stakeholders about their views on judgment issues from adjusted errors to performance materiality and profit adjustments, and the UK regulatory requirement to assess materiality

Audit / The regulator's lot: examining the role of audit regulation

Regulators are unloved and frequently criticised, but play a key and underappreciated role in audit and the economy, finds Katharine Bagshaw FCA 

Audit / Big data and audit analytics: is it an integral part of audits? – part 1

In the first of a series on big data and audit, Katharine Bagshaw FCA examines the use of data analytics in audit and talks to major audit firms about how technology and data manipulation can improve the quality and effectiveness of audit

Audit / Changing audit: commoditisation and complexity

Audit is a dynamic discipline and changes in the pipeline are likely to have a significant impact on audits of all sizes as technical complexity means that audit is becoming increasingly specialised while threshold changes is reducing the number of mandatory audits. Audit specialist Katharine Bagshaw FCA reviews the current audit landscape 

Audit / Audit risk: thinking outside the box

Concepts of risk, control, data and analysis are changing with potentially far reaching effects for audits of all sizes, particularly in light of plans for an overhaul of ISA 315, says Katharine Bagshaw FCA

Audit / Granular auditing: using enhanced audit reports

One year since the start of the extended reporting regime, the quality of audit reports is improving but not enough. Katharine Bagshaw FCA analyses the key findings from the latest report into the effectiveness of enhanced audit reports at listed companies

Audit / EU audit reform part 2: disruption ahead for auditing standards

In part two of our series on EU audit reform, Katharine Bagshaw FCA considers the growing complexity of changes to auditing standards and how they will affect public interest entities (PIEs) when they come into force in June 2016