UK Audit Watchdog Ordered To 'Transition' Into New Agency
Law360, London (April 15, 2019, 6:34 PM BST) -- Britain's auditing watchdog will "transition" into a new regulator rather than being scrapped and replaced following a series of corporate scandals under its supervision, a government minister indicated in correspondence released Monday.
Greg Clark, secretary of state for business, energy and industrial strategy, signaled that he did not expect a clean break at the Financial Reporting Council, which the government vowed to replace in March following concerns about its oversight of the U.K. auditing industry.
"It will require a program of transformation for the FRC to transition into the new statutory regulator," Clark, a Conservative Party MP, said in a letter...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!