PracticeAuditFinancial reporting watchdog to share more information with Audit Inspection Unit

Financial reporting watchdog to share more information with Audit Inspection Unit

Changes aim to improve communication between Financial Reporting Review Panel and AIU and allow Panel more discretion to announce significant changes to company accounts

THE FINANCIAL Reporting Review Panel (FRRP) has published revised operating procedures that will encourage the sharing of information with the Audit Inspection Unit (AIU).

The FRRP said that, following a consultation, it plans to share more information with the AIU, particularly when the FRRP finds failings in company accounts.

The FRRP also said that if a company makes significant changes to financial or corporate reporting after an intervention by the FRRP, it will reserve the right to make these changes public.

 

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