Deloitte Responds to Financial Stability Board Comments on Enhancement of Audit Process

NEW YORK, March 16, 2012 /CNW/ - Deloitte welcomes the Financial Stability Board's (FSB) call to improve the dialogue between external auditors and prudential supervisors and regulators of financial institutions in the wake of the recent global financial crisis. We also applaud the collaborative and global approach to addressing lessons learned from the financial crisis through the leadership of the FSB and engagement of International Audit and Assurance Standards Board (IAASB) and International Forum of Independent Audit Regulators (IFIAR). These challenges clearly require global and consistent solutions.

As we have stated in the past, Deloitte is firmly committed to supporting measures that would sustain and enhance audit quality and build confidence among investors and other stakeholders, and ultimately help prevent a future financial crisis. We look forward to collaborating with the FSB and other parties in working to enhance financial stability in today's increasingly complex business environment.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's approximately 182,000 professionals are committed to becoming the standard of excellence.

SOURCE Deloitte

Lauren Mistretta, Global Communications, Deloitte Touche Tohmatsu Limited, [phone], [phone] (mobile), [email protected]

http://www.deloitte.com