City demanding 'greater auditor transparency'
Investors are seeking increased openness on auditors' work, according to a survey by BDO
The City is calling for greater transparency in relation to the quality of
auditor’s work, a BDO poll has discovered.
The accounting firm, along with other mid-tier players, has long been
claiming that more detailed reports will show that the quality of mid-tier
audits is similar to that of their Big Four rivals.
The results of this latest poll certainly seem to indicate that the City
agrees, even though the Big Four continue to exert a strangehold on the
prestigious FTSE 100 audit market.
BDO boss Jeremy Newman said of the survey in the FT: ‘It is vital
that the reports contain sufficient detail to be of real value to the
investors’.
Further reading:
Regulators poised to publish audit firms’
shortcomings