Advisory body PIRC considers recommending shareholders vote against auditors if they fail to “publicly repudiate” the consultation document.
A row over the role of auditors in detecting fraud at client companies has taken a fresh turn, with shareholders set to play a significant role in the ongoing drama.
Shareholder advisory body PIRC has warned that it will advise investors to vote against the reappointment of auditors who fail to reject the terms of a consultation looking at the way auditors address fraud.
PIRC’s concern is that the review of current audit guidelines under way by international standard setting bodies is based on a false premise and therefore unlikely to reach the right conclusion.
PIRC says the consultation carried out by the International Auditing a
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