In 2008, the Outstanding Directors Exchange, a unit of the media company Pearson, named Stephen E. Frank an "outstanding director" for "the masterful chairmanship of Washington Mutual's audit committee during a period of intense change".
"I used to audit mutual funds [at PWC] and I don't think the mutual fund boards have a good process".
Whereas, auditing is of mutual interest to the CSCs and CSPs, auditing at one end help CSPs in making sure that their systems/services are in line with their business objectives.
It seems unreasonable to stop all staff in a firm from buying a mutual fund provided by an audit client, say, or to block every spouse from having a job with one.Whiter than whiteYet for the stamp of an auditor to have authority, it must be free from any taint.
Medical audit facilitates NHSO mutual accountability; in 2012, NHSO audited 1.2% of total IP claims and reclaimed the over-reimbursement by hospitals the total amount of US$6.077 million.
The S.E.C. said KPMG had violated the auditor independence rules by having a substantial investment in an AIM mutual fund that it had audited.
The group has also sent letters to the boards of Merrill Lynch, Citigroup, Bank of America, Washington Mutual and Wachovia questioning the conduct of the audit committees of those financial institutions.
We are particularly interested in examining how mutual-fund shareholding would affect voluntary IC disclosure and audit attestation.
Also as concerns have been raised of the ability of private providers to serve for public interests, designing mechanisms for overcoming challenges to mutual trust, logistical arrangements and financial transactions like social auditing [ 27] could be beneficial.
The ammunition, he adds, includes pumping government money into stocks and threatening mutual fund managers who short stocks (especially bank stocks) with tax audits.
Either way we should observe a positive association between mutual fund shareholding and the likelihood of IC self-assessment disclosure with an audit attestation.
