Business slams audit plans
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The European Commission (EC)'s plans for new limits on the
audit market have been angrily rejected by business groups and
auditors.
Auditors will now be limited to six years working for a single
company, at which point the contract will be put out for
tender. Auditors will be barred from tendering to companies
with which they have had a relationship in the last four
years.
On the companies' side, the EC has proposed a ban only so-called 'big four only' clauses companies will be expected to invite tender from all auditors capable of successfully carrying out a statutory audit READ MORE
Released by ICSA - 2 December
2011