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March 29, 2010

Study finds auditors have become more cautious

More than 60% of company directors believe
auditors have become more cautious in the past two years according
to a survey by KPMG.

The survey, conducted in February 2010, also
found more than 40% say their relationship with their auditor has
improved and 40% say it has stayed the same.

The areas of auditing companies felt were the
most important included speed of response when accounting guidance
is needed, frequency and quality of interaction and competitive
fees.

KPMG also discovered companies still want to
keep careful control over their business processes and areas of
risk as 51% expect to spend more on control and assurance services
over the coming year.

The survey included 198 CFOs and financial
controllers from a combination of listed and private companies and
the public sector.

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