Last week the UKs Competition Commission took an unprecedented - TopicsExpress



          

Last week the UKs Competition Commission took an unprecedented step to ensure that outside auditors act in shareowners interests. FTSE 350 firms will now have to feature say on audit votes as they now have say on pay. The Commissions rationale was bluntly put: executive management, it wrote, now has the ability to influence external auditors in how they conduct and report their audit and that there is such great information asymmetry between shareholders and audit firms...that shareholders have little information regarding the investigation carried out by the auditor. See competition-commission.org.uk
Posted on: Mon, 21 Oct 2013 14:10:40 +0000

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