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24 January 2011

FT: Auditors seek to ease fears over risk


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The four biggest auditors have denied that their dominance on the market for large company audits had created a systemic risk akin to that posed by leading banks.



Deloitte, Ernst & Young, KPMG and PwC have told the European Commission that they are willing to help draw up contingency plans addressing the possible scenario of a collapse of parts of their businesses.
 
Almost a decade after the demise of Andersen, Enron’s auditor, the European Commission is worried about history repeating itself.
 
Full article (FT subscription needed)



© Financial Times


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