When the rules don't quite fit
Article Abstract:
The US Securities and Exchange Commission's stances on issues of conflicts of interest and auditor independence are considered. The fact that the Securities and Exchange Commission's procedures are rule-based is highlighted.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2000
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All about Wiggins
Article Abstract:
The case of Wiggins Group plc whose accounts were criticised by the Financial Reporting Review Panel for errors committed over a period of six years and revisions made thereon, is discussed.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
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Consulting? More like compliance
Article Abstract:
Many are against audit firms offering non-audit services to their audit clients because of the perception that this practice somehow compromises the integrity of the audit. The European Commission addressed this issue in its recent Green Paper, 'The Role, Position and Liability of the Statutory Auditor within the European Union.' In this document, the Commission expressed its concern that price distortions and lower audit quality could result if the audit firm depends too much on cross-subsidies from other consulting work. It also fears that the objectivity of the audit might suffer if the firm provides too many non-audit services to their clients. A recent study investigating the relationship between directors and auditors also explored the impact of providing non-audit services to audit clients. Findings show that most of the non-audit services being offered by auditors are not management consultancy, therefore they should not impair audit independence.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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