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Update Paper: Statutory Audit Market.pdf

david-lindsell-response_to_update_paper.pdf

Preview of Update Paper: Statutory Audit Market

🔗 Source: assets.publishing.service.gov.uk

📊 Size: 442 KB

👤 Author: David Lindsell

⬇️ Downloads: 267

Summary

He argues that the CMA's conclusions on audit quality are not supported by evidence and that the proposed remedies would impose significant regulatory burdens and costs without achieving improvements in audit quality. Lindsell also disputes the CMA's attribution of responsibility for corporate failures to auditors, citing examples such as Carillion and BHS, where the causes of failure were more complex and not solely the result of audit failures. He emphasizes that the purpose of an audit is not to prevent company collapse or assure future viability, but rather to provide an independent opinion on the financial statements. Overall, Lindsell believes that the CMA has not made a case for intervening in the audit market and that its proposed remedies are unjustified.

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Description

He argues that the CMA's conclusions on audit quality are not supported by evidence and that the proposed remedies would impose significant regulatory burdens...

Technical Information

File Format: PDF
File Size: 442 KB
Pages: 36
Language: EN
Author: David Lindsell
Total Downloads: 267
Last Updated: 2 weeks ago

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