House of Lords Launch Inquiry into Auditors

Date: 28 July 2010

Source: UK Parliament

House of Lords, Economic Affairs Committee has launched an inquiry into Auditors: market concentration and their role. “The narrow field of choice raises concerns about competition and the quality of audited accounts, and about possible conflict of interest between audit and consulting arms. Questions have also arisen whether auditors could have mitigated the banking crisis of 2008 by alerting investors to the riskiness of the assets held by banks.” Responses are due by 24th September.

• Link to Inquiry