The auditing profession is increasingly being criticized. The pressure on auditors is exacerbated by scandal corporate bankruptcies, which auditors have been unable to warn about. Society, dissatisfied with such economic cataclysms, demands change. As is often the case, the United Kingdom has become the generator of reforms in Europe. It is there that the most radical changes in the system of audit regulation are taking place. That is why we asked for comment from a well-known English expert from Sheffield Hallam University, Dr. Ifedapo Francis Awolowo.