Among advice that the Conference Board Commission on Public Trust put across at a New York summit was for companies to restrict the amount of tax advice they commission.
‘The Commission recommends against public audit firms performing services that put them in an advocacy position such as proffering novel and debatable tax strategies and products that involve income tax shelters and extensive off-shore partnerships or affiliates,’ a statement reads.
It also says that some of the changes may ‘call for a rotation of audit firms’.
The age-old argument of splitting the roles of chairman of the board and CEO was again brought up.
The Conference Board is chaired by Peter Peterson, founder of the Blackstone Group, and John Snow, the newly appointed Treasury secretary.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester