Arbitration of audit disputes: some key points

Author: | Published: 4 May 2018

Arbitration hasn’t traditionally been used in audit-related disputes but its increasing use is an important opportunity for audit relationships globally

Companies around the world routinely are audited by external auditors. Independent auditing plays a critical role in the global capital markets, often mandated by law, and is a nearly ubiquitous practice in the modern economy. Audit clients generally contract with their external auditors through engagement letters. These contracts historically have not included arbitration clauses, even by parties that routinely utilise arbitration clauses for their other commercial agreements....