Accounting News Roundup: Myners: No More Big 4; Parmalat Is Back; More Merger Mania | 01.19.11
Myners Urges End to Domination of Audit ‘Big Four,’ Times Says [Bloomberg]
Paul Myners, a former U.K. Treasury minister, called for reform of the audit market, to end the domination of the “Big Four” firms, the London-based Times reported. Speaking at a House of Lords inquiry, Myners said Deloitte & Touche LLP, Ernst & Young LLP, KPMG International and PricewaterhouseCoopers LLP should share responsibility for the 2008 banking collapse, the newspaper reported.
PCAOB Publishes Final Standards 8-15 on Risk, Materiality; Staff Practice Alert 7 on Litigation, Contingencies [