FRC PUBLISHES DRAFT AUDITOR REGULATIONS

摘要

The Financial Reporting Council (FRC) has published consultation proposals on the draft Auditor Regulatory Sanctions Procedure. The FRC has developed the draft following amendments to the Companies Act 2006, which took effect on 2 July 2012. The amendments propose that not only should supervisory bodies participate in independent monitoring of auditors, but also for the body which undertakes the independent monitoring to determine sanctions for contravention of the body's rules relevant to statutory audit. The sanctions must be imposed by the supervisory body.