26th March 2015
Following the decision taken at the Chicago AGM to move MGI to a hybrid network structure, a technical committee of three was appointed to oversee the implementation of the two key elements of the network structure; namely a mechanism for pan-network independence checking and a global quality review regime following the principles set out in ISQC1.
Roger Isaacs of Milsted Langdon was appointed to the technical committee and reports that he hopes that the overall costs of the network will be less than originally thought and that the bureaucratic and administrative burden on firms (such as those in the UK) that can demonstrate that they already have rigorous cold file and peer review systems in place, will be kept to a minimum.
Roger has been particularly encouraged by the decision to dispense with the service of Brian Smith and to engage SWAT UK to assist with the review implementation process.
Picture, top right: Roger Isaacs