Transcription of REFORMING THE AUDITING INDUSTRY - visar.csustan.edu
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REFORMING THE AUDITING INDUSTRY - visar.csustan.edu
REFORMING THE AUDITING INDUSTRY . Prem Sikka Colin Haslam Christine Cooper James Haslam John Christensen Deepa Govindarajan Driver Tom Hadden Paddy Ireland Martin Parker Gordon Pearson Ann Pettifor Sol Picciotto Jeroen Veldman Hugh Willmott * REFORMING THE AUDITING INDUSTRY . This review was commissioned by the Shadow Chancellor of the Exchequer, John McDonnell MP, and conducted independently by Professor Prem Sikka and others. The contents of this document form a submission to Labour's policy making process; they do not constitute Labour Party policy nor should the inclusion of conclusions and recommendations be taken to signify Labour Party endorsement for them. This report is promoted by John McDonnell MP, Shadow Chancellor of the Exchequer at House of Commons, Westminster, London SW1A 0AA. *We are grateful to partners and staff of the big four accounting firms, mid-tier accounting firms, Group A firms, small firms, regulators, individual investors, institutional investors, corporate executives, pension scheme trustees, pension scheme members and ordinary citizens for sharing their thoughts with us.
The UK auditing industry is dominated by the big four firms who are routinely implicated in scandals and seem incapable of delivering high quality audits.
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