The economic, technological and social environment for auditors is changing. At the same time, the expectations of auditors are also changing. Users want assurance on non-financial and prospective information. Users also want more contextual information, e.g. about the key audit matters, and the process applied by the auditor to reach his conclusions. Although regulators and the profession are responding to the changing expectations, the scope of change is seen as unsatisfactory and the pace of change is seen as slow. It therefore comes as no surprise that the concept of an audit being a single universal service which is the same for all types of entities everywhere is challenged.