Top firms urged to open their books
The UK's top audit firms are being urged to open up their books in response to the falling levels of trust following recent accounting scandals.
Link: ICAEW pushes for greater audit transparency
Speaking in Brussels last night, Peter Wyman, the ICAEW president, confirmed he was in talks with ‘ten to twelve’ firms about improved levels of transparency.
He later told AccountancyAge.com he had formed a working party of eight firms to discuss the issues of financial disclosure, as well as transparency in other areas including the levels of minimum professional standards set by the firms.
Wyman’s comments followed those made by Jules Muis, the director general of internal audit at the European Commission who had urged both firms and institutions to be more transparent in their work.