The future of auditing: why plans to sharpen up the industry could actually make it worse
- Written by Jennifer Simnett, Doctoral Researcher in Corporate Governance, University of Reading
Following the collapses of Patisserie Valerie, Carillion and BHS, the auditors were heavily criticised in the media for signing off on the financial accounts published by each of these companies ahead of their demise.
PricewaterhouseCoopers was fined a record £10 million by the Financial Reporting Council (FRC) over BHS, and accepted there...