The all-party group rejected the claim by PricewaterhouseCoopers’ senior audit partner Roger Davis that it was not the role of auditors to make a moral judgement on what is acceptable.
The House of Commons international development committee said this week: ‘Auditors have a key role to play in spreading best practice and raising standards.
‘We do not see how they will be able to do this without making some judgement on what works and does not, about which companies need to do more.’
In its corruption report the committee said the profession should play an ‘active and vocal path in the current debate on the best way forward’.
And the government’s approach to money-laundering was singled out and labelled uncoordinated. Whitehall takes too long to respond to overseas governments requesting help in tracing the proceeds of coruption, according to the committee.
It also called for extra moves and resources to tackle money laundering including freezing assets during investigations. In addition, it called for reform in the accounting regimes of the World Bank.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel