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Ban called for tax work by auditors

by Paul Grant

More from this author

17 Mar 2003

Link: SEC takes no chances with watchdog chairman

Volcker expressed disappointment that the SEC has pulled away from plans to stop sophisticated tax work from being done for clients by their auditors. The plans were dropped after the Big Four lobbied the SEC earlier this year against the move.

Speaking to the FT, Volcker said that by doing such aggressive tax planning, accounting firms could breach the maxim that they should not audit their own work.

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