The Financial Services Authority is holding talks with top auditors to try to
ensure banks are not destabilised by accountants making a qualified judgment in
annual accounts on their capacity to continue as a going concern, the Financial
The talks come amid fears that auditors could qualify the accounts of big
banks because of uncertainties about their funding and their dependence on
The City regulator has held two meetings with representatives from the top
six accounting firms to discuss such issues, including how it could help to
avoid any problems with the audit opinions, the FT said.
The meetings were first held in December, according to the newspaper.
Auditors told the FSA they needed extra information from the Bank of England
about its ‘discount window’ facility where banks can ease liquidity problems by
swapping assets for government bills.
On Monday the Bank announced it was extending the window from a one-month
limit to a full year.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Investment in people, tech and businesses impacts on EY's profit per partner figure