subprime-markets-may-continue-to-fall

Subprime: Markets may continue to fall

Two of Ernst & Young's top executives say that when the markets re-open, financial instruments will become more complex and will require stronger regulation.
FinanceAsia talks to Dave Read, global vice-chairman of Ernst Young based in London, and Robert Partridge, managing director of transaction advisory services based in Hong Kong, about how the subprime fallout is affecting the financial services industry and specifically their business.

Continuing disclosures from subprime-affected financial institutions are highlighting the role of auditors. How is your role changing
Dave Read Much of this is management issues. Regulators, management, advisers û including auditors and rating agencies û all need to take a look at how they function. Everybody is on æextra noticeÆ.

The problems arose because the instruments were complicated. Neither the people packaging nor buying them understood them. Having said that, I donÆt think...
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