Issue 1, 2012

World Watch (Jun 2012)

Our opinion articles include:

  • An interview with Arnold Schilder, chairman of the International Auditing and Assurance Standards Board (IAASB) and Richard Sexton, PwC deputy global assurance leader. We hear their views on the future of audit, how the auditor’s report might evolve, and the hotly-debated matter of professional skepticism.
  • How Shanks Group plc has moved from compliant reporting to compelling reporting. In doing so, they’ve got their message across and won reporting awards.
  • Why effective reporting is a matter of taking steps in the right direction. Only then can investors assess a company’s performance.
  • A look at the impact mandatory firm rotation would have on audit quality. Would other changes be better for investors?
  • Reviews from the IFRS Foundation Trustees and the Monitoring Board. Will they allay concerns?

We also bring you the latest news, including articles looking at:


  • 40 years to get gender balance on boards?
  • Danger: cybercrimals at work
  • Priorities for Russian and US boards – on a par?

Corporate reporting

  • How integrated is reporting?
  • Developments in sustainability reporting
  • Greater disclosures, but little insight

Financial reporting

  • FSB risk disclosure task force – focus on year-end 2012
  • Investors want better income tax disclosures
  • Country updates on IFRS adoption


  • Little support for mandatory rotation
  • Collaboration needed to improve usefulness of disclosures
  • Internal audit facing wider remit

For hard copies of World Watch, or to subscribe, email Hard copies of our publications can also be obtained from your local PwC office.