The UK's
Financial Reporting Council held its Annual Open Meeting this week. The FRC's chief executive delivered a series of
remarks concerning the on going work of the FRC and concluded with this warning:
In December of last year we issued a statement noting that the risks to confidence in corporate reporting and governance were higher than they had been for some years and that this needed to be matched by additional diligence on the part of preparers of accounts, audit committees and auditors. Eight months on our warning remains in place and the text of our statement and the key questions which we suggested that audit committees should consider is worth re-reading".
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