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Long auditor-client relationships a threat to independence

The role of auditors is so crucial that they cannot afford to get too close to their clients at any level.

The MAS has highlighted numerous measures which have been put in place since 2008 to strengthen auditor independence.

RECENT regulatory changes in the European Union (EU) have sparked off a spate of new auditor appointments in listed entities. In July 2015, British bank Barclays replaced PricewaterhouseCoopers (PwC) with KPMG as its auditors after 120 years of association. In the same month, Aberdeen Asset...

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