City watchdog to work with FRRP
The FSA yesterday reiterated its readiness to co-operate with the Financial Reporting Review Panel to stamp out accounting abuses.
Trade secretary Patricia Hewitt last week in her post-Enron report said the review panel should take the lead in investigations, while the FSA performs risk assessments.
In a speech at Harvard University yesterday, FSA chairman Sir Howard Davies praised the review panel and its work.
‘From now on the FSA will help the review panel on enforcement – particularly in identifying the high-risk cases which merit most active investigation,’ he said.