Accounts investigators reveal new procedures

The Financial Reporting and Review Panel will next week disclose how it is to run its investigations into company accounts, following its switch from following up complaints to proactively investigating industries.

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The panel will release detailed operating procedures on 6 April that will allow investigators to ask companies for further information about their accounts, without it constituting a formal investigation.

The changes will also see panel groups established to look into specific issues that can arise out of company accounts. Its current work plan will see it investigating the accounts of companies in the automobile, transport, retail, utilities and pharmaceutical industries during 2005 and 2006.

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