Audit role for Widows chief
SCOTTISH Widows chairman Gavin Gemmell is to be part of an industry panel examining the efficacy of competition in the audit market.
The working party, set up by the Financial Reporting Council, is to examine ways in which the industry could lessen its reliance on the "Big Four" companies - reducing the impact if one of the firms collapsed, as Andersen did in 2002.
A total of 97 per cet of FTSE-350 companies are audited by one of the Big Four.
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Sunday 19 February 2012
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