Seanad debates

Wednesday, 16 April 2003

Companies (Auditing and Accounting) Bill 2003: Second Stage.

 

I have observed mega accountancy companies who have had extraordinary relationships with some of the companies that they are auditing. The tribunals of inquiry showed that proper relationships did not exist regarding companies and auditors. Auditors were getting big fees and overlooking serious problems in the companies. It is all transparent now, but we did not think of it at the time.

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