Welcome to the second edition of the Kreston International Quality Bulletin.
This edition contains articles on what it takes to be a great audit team and the impact of technology on the profession. We also continue our look at key issues in managing audit quality and the challenges encountered in audits. I hope you enjoy it.

The accounting and auditing profession is unique in having both International Standards on Auditing (ISAs) and International Financial Reporting Standards (IFRS). These standards, which are adopted and applied in a large number of jurisdictions globally, enable us to be a mobile profession and make it much easier for
companies expanding internationally.

Personally, I have greatly benefited from working in other countries. I spent 6 months in Portugal and have visited numerous countries – both as a quality reviewer and as a group auditor visiting subsidiary entities. The platform of worldwide consistent standards and a common approach to ethics and independence has made this a much more straightforward process. It is something of which the accounting and auditing profession should be proud.