Research
Investors say their is a lack of choice in the audit market
A survey of institutional investors has revealed that 80% of respondents feel
there is insufficient choice in the audit market and structural barriers exist
which prevent audit firms outside the big four from auditing listed
companies.
The survey of members of the International
Corporate Governance Network, which commissioned the research with the six
largest accounting groups, also revealed that 80% of respondents did not feel
they were sufficiently involved in setting new financial reporting standards and
60% stated that they did not think regulators were doing enough to consult with
investors.
There was strong backing for convergence between US financial reporting
standards and international accounting standards with 60% believing that
achieving this should be a high priority.
Link
International Corporate Governance Network
April, 2007 |
