FT: Auditors seek to ease fears over risk
24 January 2011
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.
© Financial Times
