FRC says accountants must quiz banks more

“Accountants still fail to question banks properly over how they make provisions for poorly performing loans on their books, Britain’s auditing policeman said on Wednesday. The criticism goes to the heart of regulatory efforts since the 2007-09 financial crisis to restore investor confidence in the figures lenders publish about their health…..The FRC report saw an overall improvement in audit work, especially at the top 350 listed companies, though accountants still needed to question what clients were telling them.”

Clearly accountants (and tax advisors) are just being too nice!

http://uk.news.yahoo.com/watchdog-says-accountants-must-quiz-banks-more-104627042.html#yc1uT6z

Eamon McNicholas
Tax Barrister, Accountant
EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , , , . Bookmark the permalink.

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