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In July 2023, the FRC released its latest audit quality reviews reports, 2 covering seven Tier 1 firms’ audit work in the private sector, for their 2022/23 inspection cycle.
Things are different now from how they were 15 years ago when people went out and bought big mainframes. Now you buy services. You do not buy kit, and you do not buy product; instead, you buy products.
If I were thinking about pivoting the capital budget—of course, I would like to have new roads, new railways and new technology—I might pivot it more towards the new technology, because if some of those productivity problems can be solv...