Audit and accounting

AUDIT AND ACCOUNTING

Audit

The Pensions and Lifetime Savings Association has an interest in ensuring the audit market serves the needs of our pension fund members. We believe the role of the auditor is of vital importance to investors in making assessments and investment decisions and the present level of audit quality and accompanying reporting could and should be enhanced.

We support measures to strengthen independence and improve competition in the audit market and believe it is vital to continue to strengthen the role of the audit committee and its relationship with and oversight of the auditor.

Accounting

Long-term investors want an accounting system which provides a prudent, true and fair view of companies’ capital position, incentivises long-term stewardship of invested capital and promotes stable and economic growth.