EU will answer to Lords on audit market future

by Rachael Singh

More from this author

06 Feb 2012

  • Comments
The House of Lords

THE HOUSE OF LORDS will question the EU commissioner in charge of audit tomorrow, in a one-off session.

Director general of internal market and services at the EU Commission Jonathan Faull, will face a grilling from the House of Lords Economic Affairs Committee tomorrow afternoon.

The committee is expected to ask Faull to explain the commission's proposals on regulation in the audit market.

Questions which are likely to crop up include whether other firms can gain market share from the Big Four; why the proposals fail to address whether or not IFRS should be used in bank audits; and the impact on the audit market if the Big Four acquire mid-tier firms.

The Economic Affairs Committee consists of former chancellor of the exchequer, chief secretary to the Treasury, a FTSE 250 CEO, professor of economics, the chairman of Ofcom, deputy chair of the Competition Commission and economics editor of a national newspaper.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Appointments to University Committees

University of Glasgow 120x60University of Glasgow - Glasgow - unremunerated positions

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.