RegulationAccounting StandardsPwC partner said auditors will not resist crisis reforms

PwC partner said auditors will not resist crisis reforms

Partner seeks to "correct impression" auditors will resist change

A senior city accountant has rebuffed accusations auditors will resist audit
reforms proposed in the wake of the crisis.

John Hitchins, a senior partner with PricewaterhouseCoopers, said auditors
have been deeply involved in reform following the banking crisis,
in
a letter printed in today’s Financial Times.

Hitchins led an ICAEW working group which last week published proposals
seeking to improve the usefulness of audit.

Press reports have claims auditors may resist the reforms.

“I would like to correct this impression,” he said.

“Bank auditors from the six largest audit firms were fully involved in
developing the report and supportive of all recommendations.”

Further reading:

Bank
auditors were fully involved in developing report

Senior
auditors renew calls for liability reforms

Viva
la audit revolution

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