Auditors in Asia are struggling to keep pace with the rapid growth of Asian businesses, an expert has claimed.
Asian Corporate Governance secretary general Jamie Allen believes investors have concerns over the ability of the Asian audit market in keeping up with the continents booming businesses .
Speaking to the Financial Times, Allen explained: "The accounting firms are running fast to try and keep up but even they admit that there is a limit to the depth of their expertise."
Hong Kong -based investor activist David Webb said that companies will be turned away by moderate investors unless they improve their governance.
"These companies will have to accept lower share prices because of the corporate governance discount," he added.
Asia's Auditors Struggling To Keep Up With Asian Business Boom
Thu, 15 Jan 2009
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