A CODE OF PRACTICE designed to improve communication between companies, auditors and regulators has been announced by the Financial Services Authority and the Bank of England.
The proposals are aimed at ensuring that regulators are better informed about the firms they regulate, and therefore better able to challenge them.
The code sets out principles that auditors and supervisors must follow, which cover the relationship between the regulator and the auditor of a firm, how they should communicate and the way information should be shared.
See full Article.
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