Tuesday, 19 April 2011

Media comment on FSA industry presentation

Quick addendum to last post - the FT obviously found the thought of two tier too tasty to pass up on , a rare foray of the subject into the pink pages.

Barely able to contain his glee (and I'm not talking show choirs here people), one of the Deloitte directors found the thought of additional outsourced model validation work a very appealing idea. Whether they are brought in as auditors or consultants, this is a sneaky piece of cost avoidance by the regulator, while simultaneously turning salaried work into (much higher) day rate work for the industry.

Hope the budget holders have got their wallets out...

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