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Folks
A survey of 100 of Australia's largest companies by ASIC found that the processes for dealing with potential conflicts of interest regarding auditors and the companies they serve "require attention."

Require attention ,thats an understatement.

ASIC also noted that audit firms generated nearly 50 per cent of total fees paid from non-audit services.

"The high level of fees earned by audit firms through non-audit services reinforces the potential for conflicts of interest," Mr Knott said.


Yepper potential for conflicts.

"Australian investors need to be assured that the financial information on which they rely is accurate," he added.

http://www.thewest.com.au/20020116/business/tw-business-home-sto40287.html

Well it aint to much to ask is it?

JR






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