PracticeAccounting FirmsDirectors studying Penrose

Directors studying Penrose

Although the Eagerly-awaited report into the near-collapse of Equitable Life will be published at 3.30pm this afternoon, the life assurer's directors have been swotting over the 800-plus page document since early this morning.

Link: Regulators and enforcers study Equitable report

Accountancy Age understands that Equitable Life representatives were to be given advance previews of the report, but only for a matter of hours, rather than the months that the government has been mulling the report over.

In addition the report does not include an executive summary, which leaves Equitable Life with a momentous task if it is to hit the ground running when the report is published for all and sundry later this afternoon.

Although Ernst & Young, the auditors of Equitable at the time, is eagerly awaiting the reports publication, the Big Four firm is expected to escape direct criticism from Lord Penrose.

Updates to follow.

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