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25 Sep 2006
Warren Tayler, the chairman of AIM-listed direct marketing group, Themutual.net, has issued a withering assesment of the accounting profession.
In a letter to the FT, Taylor said the group's auditors had failed to explain the reasons for a trebling in fees and the need to appoint two sets of accountants.
'While many businesses have cut overhead and staff costs by the use of technology, the accounting profession, while stating that they too are moving with the times, end up greatly increasing the costs to clients,' Tayler wrote.
He questioned why auditors could not use the internet to update client accounts in real-time instead of wasting time and resources on client visits.
The last set of Themutual.net's accounts were audited by Menzies.
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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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