U.K. auditors, banks must avoid harming sound businesses

01/15/2009 | Financial Times (free content)

With the current economic conditions making it difficult for banks to write letters confirming the availability of credit to their clients, regardless of how credit-worthy the firms are, alarming warning paragraphs are likely to start popping up in audit reports. This could create new problems with anxious loan officers, even for the soundest of companies. A way must be found for banks and auditors to "break this vicious circle" so that good businesses are not unnecessarily destroyed, according to this article.

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