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Acquiring qualified people is also a challenge for auditing companies

The Slovak Spectator spoke with auditing companies in Slovakia about current challenges they are facing.

Illustrative stock photo(Source: TASR)

Increasing regulatory requirements, technological changes and the availability of human resources and data security are the main challenges auditing companies are facing in Slovakia.

“The complexity and volume of auditing and accounting regulations are increasing while the pressure on audit fees from clients continues,” said Dalimil Draganovský, partner and head of assurance at EY in Slovakia. “The market is trying to find balance between the required audit quality and audit efficiency.”

The Slovak Spectator spoke about current challenges auditing companies in Slovakia are facing with Draganovský, Zuzana Letková, audit partner at Deloitte in Slovakia, Bart Waterloos, partner at VGD Slovakia and Peter Mrnka, director of PwC in Slovakia.

The Slovak Spectator (TSS): What are the biggest challenges for auditing companies locally and globally? Are there any changes that should be adopted in Slovakia?

Read more: Are audit companies facing the challenge of attracting qualified labour? What are the impacts of the law on statutory audit, passed in Slovakia in November 2015 and valid since mid-June 2016?

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