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News on listed entities and their auditors/reporting accountants
1. As one of its work sources, the Financial Reporting Council (FRC) follows the news of listed entities and their auditors/reporting accountants to identify cases of possible:

(a) auditing/reporting irregularities (please refer to the section ‘What is a “relevant irregularity”?’ for further details); and/or
(b) non-compliance with accounting requirements (please refer to the section ‘What is a “relevant non-compliance”?’ for further details).
2. If it appears that there are possible auditing/reporting irregularities and/or non-compliance with accounting requirements, the full set of the financial statements will be reviewed under the risk-based financial statements review programme (please refer to the section ‘Risk-based financial statements review programme’ for further details). However, if it appears that there is no indication of possible auditing irregularities and/or non-compliance with accounting requirements, the FRC may conclude that no further follow-up action is necessary.

Page last updated: 21 January 2016