The current wave of privatization, abroad more aptly referred to as denationalization, has achieved decidedly mixed results. Performance shortfalls have been fostered by operational weaknesses in the nature of the denationalization process, and by structural deficiencies which impede the...

Auditors are urged to promote communication with audit committees as well as with the entire board. Contacts with the entire board are most appropriate, given the rise of issues of corporate governance. It is not yet understood how effective audit committees have actually been, although the...

Changes of focus and of time‐frame are taking audit in a new direction, towards a prospective, preventative service. Examples, drawn especially from the construction sector, illustrate the planning approach this entails, particular techniques which can be applied and the different emphasis...