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December 03, 2014

Comments

Joe Conneely

What your article leads me to conclude Jim is that using your Saudi example, the wider move of power over audit appointments may move from its older historical base in USA & main EU countries (and even a lot quicker than assumed before). If you apply the approach you mention to recent major global capital investment flows, the growth in power over the last decade of sovereign funds and the power they might potentially wield arises.

Would one see in addition to Saudi Arabia, the likes of Norway, Abu Dhabi, China, Kuwait and Singapore as being that powerful a concern to major audit firms in 2000 compared with their global financial reach now? Plus the issue quickly becomes a political one as USA and Germany start making laws to address this trend!

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