PCAOB acts to curb conflicts of interest

CORPORATE GOVERNANCE

The Ethics and independence rules concerning independence, tax services, and contingent fees are the first rules to restrict accounting firms' engagement as tax and audit consultants for the same client.

The rules, issued at the end of July, are to promote the ethics and independence of registered public accounting firms that audit financial statements of US public companies.

Audit firms had been criticised for providing certain tax services, including tax shelter products, to senior executives

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Investment banks: the future of risk control

This Risk.net 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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