The Australian Securities and Investments Commission (ASIC) is reviewing 551 allegations of potential audit malpractice spanning 'Big Four' accountancy practices.
According to a Reuters report, ASIC chair Sarah Court stated in a hearing that each matter will be evaluated individually before the authority decides whether to initiate formal investigations.
The broad ******* sment comes as the four companies – KPMG, PricewaterhouseCoopers (PwC), Deloitte and EY – face sustained scrutiny over misconduct.
ASIC enforcement and compliance executive director Chris Savundra was quoted by the news agency telling a parliamentary committee: "It is around 551 complaints at this stage, noting that our work is at an early stage and we will follow the trail.
"So in response to that material, we will then issue notices for further information, so that number might grow."
#securities
According to a Reuters report, ASIC chair Sarah Court stated in a hearing that each matter will be evaluated individually before the authority decides whether to initiate formal investigations.
The broad ******* sment comes as the four companies – KPMG, PricewaterhouseCoopers (PwC), Deloitte and EY – face sustained scrutiny over misconduct.
ASIC enforcement and compliance executive director Chris Savundra was quoted by the news agency telling a parliamentary committee: "It is around 551 complaints at this stage, noting that our work is at an early stage and we will follow the trail.
"So in response to that material, we will then issue notices for further information, so that number might grow."
#securities
5 days ago
