Profession defends role of auditors in lead-up to banking crisis, but accepts need for change
ICAEW chief Michael Izza said reform of audit needs to be “evidence based” following the release of a scathing report which found the auditors lacked scepticism in the run up to the financial crisis.
Izza defended the profession after it received heavy criticism from regulators , who are seeking greater power to inspect and reform audit.
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