“Having been criticized by UK accounting regulator, the Financial Reporting Council, for their audits having deteriorated to an "unacceptable level," KPMG decided to limit or stop all consulting work for those large UK clients for which it also acts as an auditor. … If this makes sense for accounting firms, would it also make sense for other providers of financial services, like price providers or credit rating agencies: should rating agencies that rate corporates limit their ability to consult for them too (e.g., in the sale of analytics).”
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