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| Author: | Haythornthwaite, A. |
| Title: | Battle of the Regulators |
| Journal: | Accountancy
2003 : JUN, VOL. 131:1318, p. 36-37 |
| Index terms: | ACCOUNTING LARGE BUSINESSES USA ACCOUNTING |
| Language: | eng |
| Abstract: | With the new US accounting oversight board now up and running, the Big Four firms could find themselves in for a nasty shock - on both sides of the Atlantic. In its efforts to restore the accountancy profession's damaged reputation in the wake of a spate of US corporate scandals, the Public Company Accounting Oversight Board (PCAOB) is gearing up to conduct thorough - and tough - inspections of the Big Four later this year. And the UK firms are unlikely to be conveniently skipped over. The author provides some arguments against PCAOB inspections of UK firms. The author points out that the expense and effort of being subjected to US reviews will discourage firms from bothering to audit SEC-registrant companies. |
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