Fed: ASIC wants to encourage auditors to be whistle-blowers
The corporate watchdog says auditors should be acting as whistle-blowers to ensurebetter financial reporting standards by Australian companies.
The Australian Securities and Investments Commission says audit quality's being constrainedby the self-regulatory nature of the industry and the way auditors are appointed.
And chairman DAVID KNOTT has also criticised the limited obligations on auditors toreport suspected breaches of the law to ASIC.
Mr KNOTT's told the Senate economics committee auditors are only …
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