The "Big Four" called for the House of Lords inquiry accountancy firms
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Former chiefs of HBOS and Royal Bank of Scotland was grilled by a Committee of MPs in February 2009. Photo: REUTERS
The four men - the leaders of Deloitte, PricewaterhouseCoopers, Ernst & Young and KPMG – will be called into question by a raft of politicians including Lord Lawson, former Chancellor;Baroness Kingsmill, the former; regulator of competition and Lord Levene, Chairman of Lloyd insurance market.
Sunday Telegraph has learned that every man - John Connolly of Deloitte, KPMG's John Griffith-Jones, Ian Powell of PwC and Ernst & Young Scott Halliday - received a call from the Secretariat of the Commission in recent weeks, if questioning about possible availability, to hold a hearing or at the end of November to the beginning of the new year.
A close source the Commission confirmed that it is very likely that the hearing will take place, but said that a final decision has not yet been prise.La large-scale session may be recalled that the former heads of major British banks by the House of Commons of the Treasury Board in February 2009, in which they apologized for the inadequacy of their banks selection Committee.
Launch of the investigation, President of the Commission Lord MacGregor linked survey the role of the auditors of the financial crisis: "auditing is a highly publicized after financial crises and we will seek to establish if the dominance of the market by a small number of Auditors has contributed to a failure to pick up in unsustainable risks taken by international banks".
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