FRRP teams up with FSA to review accounts

New agreement with city regulator comes as powers are increased.

The Financial Reporting Review Panel is to team up with the Financial Services Authority on investigations into listed company accounts, the body revealed.

The two watchdogs have signed a memorandum of understanding that will ensure co-operation over any action taken against companies that breach accounting or listing rules. The FRRP is also finalising another memorandum of understanding with the Inland Revenue under which that tax authority may disclose company account information to the FRRP.

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