The Conflict of Interest and the Influence on the Financial Statements of a Company
The Conflict of Interest and the Influence on the Financial Statements of a Company

Summary/Abstract: The financial crisis revealed serious imperfections in the integrity of the financial system, exposing major cases of fraud and conflict of interest. This integrity deficits a cause for concern, given the roles of the information in the decision making process and on the financial market. Further more, the European audit system has been questioned following the fact that the quality of audits has been criticised by the investors. These events have revealed the failure of the auditing system to deliver true independent assurance, being based in many cases by a certain degree of conflict of interests.

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