FRC and SEC hold joint talks on audit regulation
Stephen Haddrill and Mary Schapiro meet to discuss international audit regulation
America’s chief audit regulator has met with her UK counterparts to discuss international audit regulation.
Mary Schapiro, chairman of the US Securities and Exchanges Commission has met with Financial Reporting Council chief executive Stephen Haddrill to discuss trans-Atlantic regulation, including audit issues.
In a statement Schapiro said she canvassed a number of subjects during the meeting including oversight of audit firms, providing services across borders into the UK and US, reform of rules governing issuer disclosure, and investor access to corporate proxies.
She also met with Financial Services Authority Chairman Adair Turner.
“Given the international nature of the recent financial crisis, this exchange of views can only improve the regulatory solutions we develop to these challenging problems,” she said.