Buffett wades into US accounting debate

Warren Buffett, the well-known investor and chairman of Berkshire Hathaway, has said that tougher auditing committees, rather than a new public accounting body, is the best way to avoid accounting disasters.

Speaking weeks after the US Securities and Exchange Commission (SEC) put forward plans for a new Public Accounting Board to monitor auditors, Buffett said: &quotI am sceptical about how much a board will achieve.&quot

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