Finance bosses puzzled by audit reform plans

Just because I impulsively bought a book doesnt mean that my big goals are never going to happen. It just means I made a mis-step, one that Ill think about for a while and push myself not to repeat any time soon. At the same time, I try to keep most of my thoughts on the successes. A day without a mistake is more likely to stick in my mind and bring me pride and joy than a day with a mistake or two in it.

Stage set for shifting FMC to Finance Ministry

The regulator is demanding that listed firms ask accountants to pitch for the job of checking over their numbers every five years, in a move designed to foster greater competition. At present, more than 90 per cent of FTSE 350 firms are audited by one of only KPMG, PricewaterhouseCoopers, Deloitte and EY, in what smaller accountants argue is a closed club that proves costly to shareholders. In some cases, the same Big Four firm has audited the accounts of a company for more than a century. However, the 100 Group of finance directors from the FTSE 100 blue chip index, has bashed mandatory tendering. In a letter to the long-running inquiry which is finally expected to close next month, Pearson finance director and 100 Group chairman Robin Freestone said: We cannot understand why the decision has been reached mandating companies to tender their audits every five years. He added that every other tender will be academic.

About TMX Finance TMX Finance is one of the largest and fastest growing consumer finance companies in the United States. Our family of brands includes TitleMax, TitleBucks, EquityAuto Loan, Auto Cash, TMX Credit and InstaLoan. There are over 1,200 stores in 14 states and the company continues to grow. In fact, TMX Finance has doubled in size over the past 5 years and plans to maintain that rate of growth for the next several years.

Consumer Finance Company Coming Soon to Cleveland, OH

Apprehensions intensify that members may default on payment again, as against the next scheduled pay-out of Rs 174.72 crore on August 27, only Rs 8.50 crore had been received as of Saturday. In 2009, the Finance Ministry had also suggested bringing in the FMC under its control but this didn’t happen due to the strong resistance of the consumer affairs ministry as well as the commodity futures market regulator. The FMC is now expected to be brought under the ambit of the finance ministry from September. As per the rule, upon the advice of the Prime Minister, the President can approve the change in the allocation of business of a particular ministry to another for better functioning.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s