LSBU professor appointed specialist advisor to the House of Lords

Andrew Chambers, Professor of Internal Auditing at London South Bank University (LSBU), has been officially named as a Specialist Advisor to the House of Lords’ Economic Affairs Committee for the inquiry titled Auditors: market concentration and their role.

Some of the questions that the Economic Affairs Committee will seek to answer include the following.

  • Why did auditing become so concentrated on four global firms? For example, do economies of scale make it too difficult for smaller firms to compete?
  • Were auditors sufficiently sceptical when auditing banks in the run-up to the financial crisis of 2008? If not, was the lack of competition in auditing a contributory factor?
  •  What, if anything, could auditors have done to mitigate the banking crisis? How can auditors contribute to better supervision of banks?
  • Is the auditing profession well placed to promote improvement in corporate governance?

More information is available on the Economics Affairs Committee web page.

This news adds to the continuing success of LSBU’s Faculty of Business as it follows on last week’s announcement that Jeffrey Ridley, Visiting Professor of Auditing, was awarded the 2010 J.J. Morris Distinguished Service Award by the Institute of Internal Auditors (IIA). The award recognises members of the IIA who, over time, have given unusual and outstanding service to the profession of internal auditing through participation in the activities of the organisation. Professor Andrew Chambers received the same accolade in 2008.


Posted: 6th August 2010