Dr. Hubertus Labes gave his opinion in the context of an interview as regards the audit situation in Continental Europe (published in "run off & restructuring, issue 30, autumn 2009, pages 16 et seq). He emphasised the influence of the economic crisis forcing companies to take a closer look at what their underwriters are doing. Furthermore, he pointed to the fact that especially in the UK it is often not clear that Continental Europe is not just one market but many each with their own languages, cultures and business philosophies. Therefore, expectations in view of an audit but also the acceptance of audits are quite different in the various European countries.
The full interview can be downloaded here. (Download PDF)
