Insurance for directors

Insurance for directors

Auditors should not be required to provide an insurance policy for directors, according to the Auditing Practices Board's recently established audit faculty. At a debate on internal financial controls, held at the Institute of Chartered Accountants last week, Gerry Acher, chairman-elect of the new faculty, said: "Auditors should be focusing on assisting management in enhancing internal control practices rather than on formulating forms of public report which their clients have no wish to commission."