Audit Reforms Hit By Delay
Posted on 01 Oct 2020
Harris & Co Accountants Northampton report that due in February, the audits of the FTSE 350 now have a vigilante - the European Commission. The commission is checking whether or not the big four accountants (PwC, Deloitte, KPMG, Ernst & Young) are pressuring the audit. Since the provisional findings were postponed from November last year, the final report is now scheduled to arrive in June 2013.
Even the proposals that were being managed through Parliament by the Conservative MEPs that were to be signed by members of the European Parliaments Legal Affairs Committee (JURI), in the last week of January have also been delayed.
Professional Advice And Services From Harris & Co Northampton Accountants
One of the key issues regarding the dominance of the big four accountancy firms, which many other accountants are monitoring intently like Harris & Co Northampton accountants, is the fours auditing practices for 90% of the UKs blue chip companies could be distorted after decades of working together. Some fear the auditors will become less sceptical of the information they are given which could result in inaccurate financial reporting which can lead to disaster.
Previous to the 2007-2009 banking crisis accountants gave banks glowing audit reports just before the UK taxpayers were forced to bail them out.
If your company or business requires auditing services and you want to try a new trusted provider, contact Harris & Co, chartered accountants Northampton. We are here to help you run your business more profitably by reliably managing your audits.
Contact Harris & Co Accountants
We offer a no obligation initial consultation where we will discuss your financial requirements. So go ahead and call us at 01604 660 661, because we the Northampton accountants, provide a full range of accountancy and business consultancy services to individuals and small and medium sized Northampton(shire) owner-managed businesses.
