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Liability caps: the backlash from regulators
Filed in archive Accounting by leon on December 12, 2005
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At the end of last month I posted an entry on the growth of ''liability caps". These are arrangements where companies that run into accounting problems can't turn around and sue their auditors. Now regulators and investors are gunning for the big Audit firms, and trying to stop the big banks from rolling over and agreeing to these caps. As Cynthia Richson from the Ohio Public Employees Retirement Systems says: "In a critical system of checks and balances, you're taking away one of the most significant checks, and you're doing it quietly.'' Read the report here.

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Tags: Liability  caps  sue  auditors 
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