Non-audit services ‘conflict of interest’

Published today, the report says: ‘There has been an increasing tendency for auditors to perform more non-audit services to the company they audit: for many firms, this non-audit work has become a significant part of their work.’

It continues: ‘The conflicts of interest to which this give rise are obvious; the only issue is how this is best dealt with to maintain public confidence in the audit and to ensure that auditors are not only independent, but are perceived to be rigorous and robust in their audit of a company, or indeed any entity.’

It recommends: ‘In the light of the events surrounding Robert Maxwell’s companies and the pension funds, public perception and confidence should be seen as of central importance.’


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