Thursday, January 29, 2009

If the Banks have a major problem then so does the housing market

Expert doubts auditors can sign off banks as “going concern”

Auditors may not be capable of signing off banks as a “going concern” due to the difficulty of predicting the behaviour of volatile markets, an expert has warned MPs. Independent Audit director Jonathan Hayward was quizzed by MPs on the Treasury select committee yesterday on whether or not the big four accounting firms were actually capable of understanding banks assets and liabilities well enough to sign them off as a going concern in the forthcoming full-year results season.

Posted by jack c @ 01:17 PM (714 views)
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2 thoughts on “If the Banks have a major problem then so does the housing market

  • good post ~~~ from the Northumberland Coast

    sadly a non starter, just like Nemo’s submarine.

    clues like glues bind things together

    http://economicvoice.com/

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  • Good 2 C U R back under cover – looks like when they lifted the shorting ban they lifted the mal ban (LOL)

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