I've always felt that - for public companies anyway -
that the selection and payment of auditors should be settled
at the annual meeting.
Currently we just get that stupid vote on the papers
"That the directors set the payment for the auditors"
(to which I always vote NO)
The auditors are really working for the shareholders, so
the directors should tasked with finding the best two or
three offers from auditors who are interested, then they
should be told to turn up at the shreholders meeting to 'strut
thier stuff' and then the shareholders would vote.
Its obvious that directors have shown - in many cases
- that they are incapable of making sensible
decisions.
See IRG research reports
