audit quality Archives - Emile Woolf writes

Competition amongst auditors – not the answer

Have auditors learned more from the 2008 financial crash than economists? The high priests of the dismal science refuse to recognise that the world has changed, though their discreditied theories continue to collapse about their ears.  Any serious penetration of the causes of collapse are not in the university syllabus, which now reads more like […]

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Audit quality: is lack of competition the problem?

Twelve years ago, when their audit of Enron’s last accounts heralded the demise of Arthur Andersen, the largest end of the audit market shrank to four firms. The Competition Commission (CC) has now provisionally concluded that the audit market is restricted: companies are inhibited from switching auditors and there is a tendency for auditors to […]

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