PracticeAuditAuditors urged to ‘open their eyes’

Auditors urged to 'open their eyes'

Auditors 'should look beyond the books' and into a company's commercial relationships and the way in which its senior managers behave, according to Paul Walsh, chief executive of FTSE100 drinks manufacturer Diageo.

Link: Tesco boss slams rising taxes

Walsh stated the opinion during his speech to the Treasury-organised enterprise conference held yesterday at the QEII Conference Centre.

He also commented that a ‘cursory glance’ at the books of Enron, Parmalat or Adecco should have raised an alarm.

‘That would be a positive contribution to develop increasingly exacting standards of integrity and transparency and apply them – appropriately adapted to local culture – to developing markets as well,’ he added.

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