Carillion Raises Questions on Reframing Audit.

Letter to the Financial Times, published 30 January 2018


Following the letters from David Herbinet (January 22) and Paul Sanders (January 25) three simple questions are uppermost in my mind.

First, why do companies pay for audits rather than shareholders?  Does this not skew independence from the start?  Second, with the rise internationally of integrated accounting can financial-only auditors cope with the added future demands of environmental and social audits?

Third, as the Financial Reporting Council cannot debar directors, only accountants, why is it leading the Carillion inquiry?

Bob Garratt

Tuesday 30 January 2018


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