The Financial Conduct Authority has published a finalised version of its Code of Practice for the relationship between the external auditor and the supervisor: see here (pdf). The Code consists of five principles: [1] Auditor's duty to report, [2] Supervisors and auditors shall share all information relevant to carrying out their respective statutory duties in a timely fashion, [3] Supervisors and auditors shall seek an open, cooperative and constructive relationship, [4] Supervisors and auditors should engage in regular dialogue, [5] Supervisors and auditors shall treat information shared between the two parties or received from regulated firms confidentially.
Monday 15 July 2013
UK: FCA publishes Code of Practice for the relationship between the external auditor and the supervisor
The Financial Conduct Authority has published a finalised version of its Code of Practice for the relationship between the external auditor and the supervisor: see here (pdf). The Code consists of five principles: [1] Auditor's duty to report, [2] Supervisors and auditors shall share all information relevant to carrying out their respective statutory duties in a timely fashion, [3] Supervisors and auditors shall seek an open, cooperative and constructive relationship, [4] Supervisors and auditors should engage in regular dialogue, [5] Supervisors and auditors shall treat information shared between the two parties or received from regulated firms confidentially.
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