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Byline: Sriwipa Siripunyawit
Sep. 13--Tricor Holdings Ltd, a member of the Hong Kong-based Bank of East Asia Group (BEA), has recently acquired some operations of three of the Big Four international audit firms that have been struggling since US regulators imposed new rules to strengthen corporate governance.
The regulations, a response to recent corporate financial scandals such as Enron, have dealt a big blow to large auditing and accounting multinationals, according to Munthana Thamlikitkul, chief executive officer of Tricor Outsourcing (Thailand), a local BEA affiliate.
As a result, she said, new challenges have arisen for the Big Four: ...