Upon its creation in 1991, the UK's Auditing Practices Board (APB) debated the future of financial statement auditing, leading to a succession of APB publications in 1992, 1994 and 1996. A significant theme of these publications focused on the need for an audit environment in which auditing can...

Reports research results which were presented to the Working Party of the Auditing Practices Board, which developed Statement of Auditing Standards 600 on the expansion of the audit report. Provides a brief discussion of the working party’s reception of the research. Results revealed that,...

The paper delivers an analysis of the “New Economy” focussing on the roles of new business models, the capital market and venture capital. The capital market created a double standard in the 1990s: A high return on capital was required from old economy firms whereas money was thrown at new...