Ernst & Young Statement on the Financial Stability Board Announcement
Ernst & Young welcomes the announcement by the FSB on its new audit program.
“We look forward to participating with other key stakeholders in ensuring that the lessons learnt from the financial crisis are incorporated into discussions around promoting financial stability and more meaningful financial transparency.
“We are more convinced than ever of the importance of dialogue between auditors, regulators and other stakeholders, both on an ongoing basis as well as at times of crisis.
“This is the right time to take a fresh look at how the current financial reporting and auditing model for financial institutions is working for investors and other stakeholders.”