Mazars welcomes Audit Firm Governance Code - Mazars - United Kingdom

Mazars, the integrated international accountancy firm, has warmly welcomed today's publication of the Audit Firm Governance Code by the Financial Reporting Council and the Institute of Chartered Accountants in England and Wales.

18/01/2010

David Evans, Mazars' national senior partner said: '"We believe the Code will enhance transparency among the main audit firms, and increase confidence among shareholders of listed companies the public interest is being held in full regard. We intend to apply the Code and, as the only truly integrated global accountancy organisation, we plan to appoint independent non-executives at a global level. We are also the only firm to publish audited, consolidated results at a global level."

David Herbinet, the firm's UK head of Public Interest Markets and a member of the FRC's Market Participants Group added: "The Code is the most concrete achievement of the Market Participants Group. It is vital that institutional shareholders engage with all firms applying the Code in order that we can start to make real headway in the competition and choice debate. I believe application of the Code will highlight that there are more than just four firms with the capabilities and capacity to audit most FTSE 100 and FTSE 250 companies. A reduction in concentration in the audit market will be to everyone's advantage'.