EU audit reform proposals delayed
Friday 18 November 2011 - by Karina Whalley
Draft legislation expected to shake up the European audit industry is to be delayed due to ongoing eurozone crisis talks taking precendence, according to the European Commission.
As reported by Global Financial Strategy, a survey of audit committee chairs of 22 FTSE 100 companies show widespread hostility to some of the rules, including mandatory rotation of auditors and the prohibition of audit firms performing non-audit services. Chairs say they fear they could have adverse effects on audit quality.
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