The Financial Reporting Council has published its response to the European Commission's audit policy consultation: see here (pdf). The FRC sets out its position on a number of matters and states that it does not support: [i] a wholesale ban on the provision of non‐audit services to audit clients, [ii] the forcible creation of audit‐only firms or [iii] the mandatory use of joint audits.
Wednesday, 15 December 2010
Europe: Commission consultation on audit policy - FRC response
The Financial Reporting Council has published its response to the European Commission's audit policy consultation: see here (pdf). The FRC sets out its position on a number of matters and states that it does not support: [i] a wholesale ban on the provision of non‐audit services to audit clients, [ii] the forcible creation of audit‐only firms or [iii] the mandatory use of joint audits.
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