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Briefs: New private bank head at Credit Suisse, concerns over ASIC shift to coercion

The new head of private banking Australia at Credit Suisse Group, Michael Marr, will take over the new role on 1 August. Marr is currently a market leader at Credit Suisse private banking. A working paper by collaborating researchers from the University of Melbourne, the University of Florida and Monash University says ASIC's shift to a more coercive approach has led to more "box checking" by audit firms. The AFR reports fears that the over-reliance on checklists to meet the regulator's demands may decrease overall audit quality.

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