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a formal written statement to the Audit Committeesettingforth all relationships between the independent auditors and the Company
The separation of ownership rights and management rights on shares of a Joint - stock companyleadsto agency conflicts between shareholders and managers
the 1978 lawcreatedindependent auditors within agencies
legal protectioninfluencesthe agency conflicts between investors and controlling shareholders
concentrated ownership and the associated pyramidal and cross - holding structurescreateagency conflicts between controlling shareholders and outside investors
enough material cases of dishonestyto causeconcern among independent auditors
the use of debtcausedthe agency conflict between firm shareholders and debt holders
Years of mismanagementledindependent auditors of ICCAT
states and local gov’tswould setup independent auditors
forth in the disclosures required in Article III.2.(g ) belowmay be setforth in the disclosures required in Article III.2.(g ) below
problems and promptly withdrew their audit opinions for 2000 and 2001 , and suspended their 2002 audit ( Masters and McCartney , 2003discoveredproblems and promptly withdrew their audit opinions for 2000 and 2001 , and suspended their 2002 audit ( Masters and McCartney , 2003
the fiscal discrepanciesdiscoveredthe fiscal discrepancies
committee(passive) is composedcommittee
Over - investment in enterprises(passive) is mainly caused byOver - investment in enterprises
voluntary industry standards(passive) set ... byvoluntary industry standards
auditing and attestation standards(passive) designed byauditing and attestation standards
stringent tests(passive) set ... bystringent tests
in the United Kingdomoriginatedin the United Kingdom