View more on these topics

FSA and FRC to boost co-operation and information sharing

The Financial Services Authority and the Financial Reporting Council have agreed a memorandum of understanding on greater co-operation and information exchange.

The agreement is designed to deliver a closer working relationship between the FSA and the FRC’s audit inspection unit, which operates a risk-based system of audit inspections.

The regulators say the memorandum underpins their increased dialogue on accounting and disclosure issues that started in 2005. It also follows the June 2010 publication of their joint discussion on the audit of financial institutions.

FSA accounting and auditing sector leader Richard Thorpe says: “The FSA relies on audited financial information to meet its regulatory objectives and it is imperative that we have confidence in the information provided to us. Sharing information with the FRC will go some way to mitigating our concerns.”

Recommended

Aviva uses shock tactics in TV life ads

Aviva is running a national TV ad campaign to promote awareness among families of the benefits of life insurance. The ad first aired on January 17 and the campaign will run for a month. It features actor Paul Whitehouse, who plays a father talking about his family’s financial security as they pack to go on […]

14

End the online vitriol

The new year sees many people set resolutions that are either impractical or doomed to fail. We now have less than two years before the RDR is put in place. By now, you will have gathered I do not belong to the group that believe it is not too late to defer or defeat the […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment