US and UK near compromise on audit disclaimers

Link: ACCA comes out against disclaimers

The Securities & Exchange Commission had previously objected to audit disclaimers, already being used by the UK arms of Big Four firms PricewaterhouseCoopers and Ernst & Young, on the ground that they conflict with US securities guidelines.

However, a compromise agreement could see the disclaimers include a note which would say that it was to be ignored in the US, according to a report in the FT.

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