The Audit Inspection Unit (AIU) has carried out its annual review of the six largest audit firms. All six were found to have drawn conclusions without substantial evidence to back them. Other issues highlighted were a lack of scepticism, and being too ready to believe management assertions without proper investigation. Firms were praised for their policies and procedures, although a number were accused of failing to follow them. Several firms were accused of inappropriate focus on the sale of non-audit services to clients, and fell short in terms of risk management. Overall, however, the AIU concluded that the results were “as good, or slightly better, than those of last year”.