Accounting firms rapped by PCAOB


Audit firms have recently been criticised for providing certain tax services, including tax shelter products, to senior executives of public company audit clients. Some have asserted that such services could lead to conflicts of interest.

In 2004, the justice department and the internal revenue service (IRS) initiated investigations into both KPMG and Ernst & Young, the two leading accounting firms, regarding the tax shelters they had promoted.

In its current form, the Sarbanes-Oxley Act does not

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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