Ministers issue reform proposals.

Position:News Round-Up - Brief Article

The Treasury select committee's report on accounting reform has been broadly welcomed by business. The CBI praised the government for not overreacting to the recent US scandals and approved its recommendations to strengthen audit committees and review audit partner rotation. But the CBI's director-general, Digby Jones, warned that he would not support plans for statutory rotation of audit firms or restrictions on the provision of non-audit services. "I am deeply sceptical that rotation would have any real impact when there are only four multinational companies to choose from," he said. "This should be a matter for the audit committee." CIMA's chief executive, Charles...

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