Audit committee changes fail to deal with 'underlying' problem of choice
Tory Treasury spokeswoman Baroness Sheila Noakes has attacked the Financial Reporting Council's plans to amend guidance meant to help audit committees look beyond the Big Four when choosing auditors.
‘They’re trying to find solutions in a way that does not affect the underlying problems, which is that there are four large firms and everyone would like there to be more,’ said Baroness Noakes, who is also a senior FTSE audit committee member.
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