Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-335-750"
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"en.20110913.34.2-335-750"2
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"The quality of auditing processes is dependent on the auditor’s independence, or lack thereof. As the report stresses, there is the possibility of conflicts of interest when auditing firms offer different services to the same firm. Moreover, the high market concentration of the Big Four audit firms may cause an excessive build-up of risk, while various smaller firms are known to exist. We recognise that a high-quality audit system is an integral part of a sound corporate governance framework.
For this reason, we agree with Parliament’s call for the Commission to present its proposals on corporate governance and auditing in a consistent way, although we cannot fail to point out that many of the proposals included in the report do not go beyond mere palliatives."@en1
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