FT News Briefing Who audits the auditors?
Sep 3, 2024
The UK has decided to block certain arms shipments to Israel, raising humanitarian concerns. In a battle against new oversight rules, U.S. audit firms are pushing back, highlighting the complexities of regulatory changes. Meanwhile, innovative mRNA technology, initially developed for Covid-19 vaccines, is being explored for personalized cancer treatment. Additionally, the revival of Oasis has sparked a UK investigation into Ticketmaster due to soaring ticket prices, igniting discussions about fairness in event ticketing.
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UK Halts Arms Exports to Israel
- The UK is halting some arms export licenses to Israel over concerns of international humanitarian law violations.
- While the US and Germany export more, this move is still a significant diplomatic blow to Israel.
Auditing the Auditors
- The Public Company Accounting Oversight Board (PCAOB) wants US audit firms to establish internal oversight boards with external members.
- This aims to increase scrutiny and improve audit quality, following an uptick in audit flaws.
Personalized Cancer Vaccines
- Moderna and BioNTech are developing personalized mRNA cancer vaccines to prevent recurrence.
- These vaccines teach the immune system to attack specific tumor proteins after surgical removal.