Corporate governance foundation,
Swiss SRI have called for an audit to explain events that led to the devastating
UBS write-downs related to sub-prime issues.
The call for the audit comes 10 days after UBS announced that it would write
down up to $10bn worth of holdings and warned that it saw a loss across the
group for the fourth quarter, as well as a possible net loss for the full year.
‘As a long term UBS shareholder, Ethos is expecting detailed information
regarding the mechanisms that led to the write-offs,’ Geneva-based Ethos said.
Ethos has asked for additional disclosures and a special audit to be added to
the agenda of an extraordinary general meeting with shareholders scheduled for
Ethos expects the additional information to shed light on potential risk
management and dysfunctional risk controls.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
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Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges