Accountancy and Audit Articles
Its hard to credit this but a recent report in an online newspaper exposes the parlous state of Spain's compliance with EU rules(and its own laws)on company accounts filings. It seems that 2/3rds of Spanish companies completely ignore the regulations and they do so evidently with complete impunity.
There is much in the news today about various firms of auditors being appointed to analyse the real bad debt situation that has caused the banking crisis. As a small scale Spanish auditor myself, I can't help think that something has gone seriously wrong in the audit profession in Spain and it amazes me that no one is pointing the finger at the big firms that have been responsible for the audit of the Spanish banks in recent years. Amazingly, it is the same firms that are now being appointed to carry out a new review of the bank's balance sheets.