Auditors must improve their work around checking client assets held investment firms or face the consequences, says the FSA
Failings have been found in how auditors report and check on client assets held by investment institutions, according to the Financial Services Authority.
The authority wants to improve the quality and constituency of auditors' reports on client assets held by FSA-governed institutions.
The FSA's findings have been sent to the ICAEW and accounting disciplinary body the Accountancy & Actuarial Discipline Board (AADB).
See full Article.
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