PracticeAuditAnstee slams liability ‘conspiracy theory’

Anstee slams liability 'conspiracy theory'

ICAEW chief says investor opposition to proportionate liability is misguided

The chief executive of the ICAEW has said that investors opposed to the
introduction of proportionate liability are following a misguided ‘conspiracy
theory’ over the conduct of the auditing profession.

Eric Anstee hit out at claims by influential investor groups that the
introduction of international standards on auditing, which will be enshrined in
law by the European Union’s Eighth Company Law Directive, will damage audit
quality and reduce auditor exposure.

‘There is a conspiracy theory that the International Auditing and Assurance
Standards Board is being dictated to by the big accountancy firms, and that the
big firms are trying to set standards that lower the requirements and reduce
their legal liabilities, said Anstee in the Financial Times. ‘I don’t
think that’s the situation at all.’

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

1d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

1w Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

1w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor