FSB to reform external audits of financial institutions

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The Financial Stability Board (FSB) is pressing for more action to improve external audits of banks, insurance companies and securities firms. The aim is to ensure that regulators around the world receive more information from external audits, particularly from the audits of systemically important financial institutions.

The FSB, which was set up to coordinate at international level the work of national financial authorities and international standards-setters, believes external audits – when

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