Auditors called to account

News

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Demands in the US for tighter regulation of accountants and measures to ensure better financial reporting have been given a boost with the announcement of plans for a public sector regulator of accountants.

Nevertheless US regulators will have their work cut out restoring investor confidence – as Credit was going to press WorldCom, the embattled US telco, looked close to bankruptcy after it was allegedly found to have falsely boosted profits by $3.8 billion since the beginning of 2001.

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