Wednesday, 28 February 2018

Auditing prominent companies

Vince Cable has drawn attention to the lack of competition in the audit market. If Adam Smith were alive today, he would surely suspect a "concert party".

As Private Eye has frequently pointed out, there is also a danger of a conflict of interest when an audit firm provides additional management advice to the company it is auditing - not that I am suggesting this is what happened in the Carillion case.

No comments: