What are the proposals made by UK professional bodies concerning auditor liability?

What are the oversight functions of PCAOB in audit quality control?
December 26, 2020
Under what conditions is a congestion tax a good idea?
December 26, 2020

1. In your opinion, how can the audit profession respond positively to stakeholders’ expectations and reduce liability in auditing?

2. What are the proposals made by UK professional bodies concerning auditor liability?

3. Discuss auditor liability in the German context.

4. What are the safeguards available to auditors when evaluating the threats in assurance services?

5. How do you evaluate the oversight role of PCAOB in minimizing the likelihood of lawsuits?