April 26, 2007

One little raffle would do it

Sir, Barney Jopson in “Unknown auditor? Not in my back yard, thank you” describes how though everyone knows it is not good for the markets to be so much in the hand of just four big auditing firms no one really gets around to do something about it, and so it seems that your regulator could be lacking some testosterones. Honestly, how difficult can it be to pick, through a raffle, 150 of the 300 largest companies that should be able to use a mid-tier auditor, and just ordering them to do so within a year if the want to avoid a huge fine. It is high time for the world to start thinking about taxing the largest before they become the-only-one and so from auditor firms we might then have to move to the banks.