FRC agency takes over oversight of audit regulation
POBA Chairman, Comptroller and Auditor General Sir John Bourn The Professional Oversight Board for Accountancy, a part of the Financial Reporting Council has formally taken over oversight of audit regulation from the DTI, under powers delegated to it under the Companies Act 1989.
POBA is now responsible for recognition, supervision and de-recognition of accountancy bodies responsible for supervising auditors or offering an audit qualification.
See full POBA Press Release.
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