FSA, Bank call for closer dialogue with auditors

Bank of England and the FSA

The UK Financial Services Authority (FSA) on Thursday published a draft code of practice aimed at improving communication between auditors and supervisors.

The code, which was the result of joint work with the Bank of England, puts forth a framework for cooperation between auditors and supervisors, which will heighten the ability of the FSA to scrutinise individual accounting practices and understand their full implications. "The FSA and its successor organisations, as supervisors, need to have

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