In his recent state of the union address, George W Bush called for “stricter accounting standards and tougher disclosure requirements” with a view to ensuring that US companies were “more accountable to employees and shareholders and held to the highest standards of conduct”.
When the US President uses his most important set-piece speech of the year to comment on accounting standards and the issue of auditors’ relationships with their clients, there can be no doubt that these issues are fully in the spotlight.
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