Professional Oversight Board says it has "significant concerns" about the regulatory work of institutes and efforts to open up the audit market have had little impact
Watchdogs have warned that accountancy institutes must improve their monitoring of auditors as the profession continues to come under fire for its work in signing off company accounts.
In a report to business secretary Vince Cable, the Professional Oversight Board said it had "significant concerns" about the work of the institutes charged with keeping an eye on audit firms.
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