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Expert warns beefed-up tax watchdog will be looking for quick and easy wins among small businesses with inadequate records while failure to take reasonable care as serious as evasion.
Spending watchdog the Audit Commission spent £20,000 in the past two years on luxuries such as meals in Michelin star restaurants.
The FSA has published ten new requirements for firms and their external auditors in order to improve the quality and consistency of auditors’ client assets reports.
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Auditors must improve the quality and consistency of their reports on client assets after serious failings were identified, the FSA says.
Vince Cable has warned banks not to use the new Basel III rules as an excuse for not lending to businesses.
Auditors are too trusting of managers' explanations of financial reporting when looking into company accounts, the Audit Inspection Committee (AIU) says.
The FSA is consulting on ways to enhance the effectiveness of auditors after saying their work often “falls far short” of what it expects.
ETF Securities has launched a gold backed ETC on the London Stock Exchange.
KPMG is being sued for $1bn by creditors of a sub-prime lender for failing to properly audit the collapsed firm.
A LONG-AWAITED report into the dominance of the Big Four accounting firms was welcomed by auditors yesterday after it declined to make any policy recommendations, reports The Times .
The Financial Services Authority is in discussions to remove the requirement on small intermediary firms to audit their accounts, in line with other small companies.
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