Should audit firms be banned for auditor negligence?

Moneycontrol.com 12/05/2010

Vishesh Chandiok, Managing Partner, Grant Thornton There are solutions between acting against only the auditor versus banning the entire firm. And there could be sanctions like the inability to accept clients for a certain time, the inability to audit certain businesses and similar intermediate solutions. I think banning is one extreme and not being able to act against firms is another extreme and I think we need to find that balance somewhere.