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20 Oct 2008
Tory grandee Lord Heseltine has called for a shake-up of audit regulation in response to the economic crisis.
Speaking at a business dinner last week the former defence secretary asked why auditors had so far escaped the blame game in who should have foreseen the financial crisis.
Heseltine favours setting up an independent commission with the power to appoint auditors to firms for a fixed period of five years.
His comments come amid concerns that the big audit firms could be vulnerable to litigation over their role in credit crunch related securitisations.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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