{"id":17333,"date":"2012-09-17T09:32:13","date_gmt":"2012-09-17T08:32:13","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=17333"},"modified":"2012-09-17T09:32:13","modified_gmt":"2012-09-17T08:32:13","slug":"when-pwc-have-a-choice-between-shareholders-and-senior-management-theres-no-doubt-on-whose-side-they-are","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/09\/17\/when-pwc-have-a-choice-between-shareholders-and-senior-management-theres-no-doubt-on-whose-side-they-are\/","title":{"rendered":"When PWC have a choice between shareholders and senior management there’s no doubt on whose side they are"},"content":{"rendered":"

The FT notes this morning<\/a>:<\/p>\n

An array of institutional investors has joined forces to resist attempts to dilute audit reforms that would affect listed companies across the European Union.<\/p>\n

Amid signs legislators will ditch aggressive proposals\u00a0put forward by the European Commission\u00a0last year, the shareholders say major changes are needed to make auditors more independent of the companies whose accounts they vet.<\/p><\/blockquote>\n

So investors and therefore shareholders want better and stronger audit.<\/div>\n
<\/div>\n
Who doesn't I wonder? Could it be PWC? I note the FT report this morning the\u00a0following\u00a0from the\u00a0UK PWC boss<\/a>:<\/div>\n
\n

Mr Powell also suggested that a\u00a0threat by the European Commission\u00a0to split the biggest accountants into separate audit and advisory arms now appeared unlikely to become law.<\/p>\n

He denied that PwC and the other \u201cBig Four\u201d accountants \u2014 Deloitte, Ernst & Young and KPMG \u2014 had neutered EU audit reforms through lobbying, saying the softer tone emanating from Brussels reflected a backlash by companies.<\/p><\/blockquote>\n

Maybe it is companies saying that: but let's also be clear he's misrepresenting the truth when saying so. If companies are made up of members its clear they want stronger audit. It's senior\u00a0management\u00a0who says they don't want to be accountable. And on whose side are PWC? Senior management's of course.<\/div>\n
<\/div>\n
And that's why they're not fit to be auditors.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The FT notes this morning: An array of institutional investors has joined forces to resist attempts to dilute audit reforms that would affect listed companies
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81],"tags":[],"class_list":["post-17333","post","type-post","status-publish","format-standard","hentry","category-auditing"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=17333"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17333\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=17333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=17333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=17333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}