Thursday, July 01, 2010

Financial auditors not sceptical enough in run-up to crisis, FSA says


Auditors 'inadequately challenged' firms' assumptions in deciding whether to take provisions for loans not being repaid

The role of accountants in the banking crisis was thrust into the open yesterday when the Financial Services Authority said that the profession had not been sceptical enough about the financial firms it audited in the run up to the banking crisis

See full Article.