FSA plans external risk audits.
| Position | News Round-Up - Financial Services Authority - Brief Article |
Accountants in business will need to prepare for their risk management procedures to be audited if new proposals by the Financial Services Authority are adopted. The watchdog wants to bring audit procedures in line with recommendations in the Combined Code on corporate governance and the revisions made to the code following the Higgs report. But the proposals have raised concerns that UK regulation could become formulaic and prescriptive. A recent survey of non-executive directors from 65 FTSE-250 companies revealed concerns that the FSA's plans would leave British business...
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