In  4  BIS Review 4/2005  the future, banks may consider require financial information audited by accounting firms and assessment on enterprises’ compliance and borrowing conditions made by law firms, and valuation of collaterals made by evaluation firms and bond classes given by rating firms.
However, it may take years for the above intermediate services to develop, and the expertise, reputation, brand-name, service quality also take tens of years to build. Are the audited statements trustworthy? It really depends and relates to the expertise and internal control of the firms. The development of intermediate financial service providers is affected by market liberalization as well.