Brussels, 13/10/2010 (Agence Europe) - The audit sector has been warned. Its failure to predict the financial crisis has persuaded the European Commission to launch a broad reflection on the functioning of the statutory audit market. “It is a fact that few people saw the financial crisis coming, auditors or anybody else (…). The status quo is not an option. We are ready to legislate in 2011”, said the Commissioner for the Internal Market on Wednesday 13 October. Michel Barnier spoke of...