Accountants plea for greater transparency
Large firms have been vying for the media spotlight in bids to urge more clarity in their own and clients' businesses.
Opening the bids to restore public confidence in the battered industry, Sam DiPiazza, global chief executive of PricewaterhouseCoopers, urged auditors to take responsibility for vetting financial information currently falling outside US principles.
At the same time KPMG’s new UK senior partner John Griffith-Jones reportedly suggested greater scrutiny of management’s track record to identify potential fraudsters.
His colleague Ted Awty, KPMG head of assurance, writing in Accountancy Age, suggests the extension of reporting into non-financial areas and greater transparency on fee income.
Click here to follow Ted Awty and Peter Williams as they debate this issue.