Audit
FSA to consult on ending audit requirements for small firms
The Financial Services Authority (FSA) has issued a consultation paper proposing the removal of statutory audit requirements under the Companies Act for small firms and Appointed Representatives (ARs).
PCAOB approves stricter internal audit controls
The Public Company Accounting Oversight Board (PCAOB) has approved an auditing standard for audits of internal control over financial reporting, and proposed amendments to the board's existing interim auditing standards to conform them to the new…
Advancing op risk management using Japanese banking experience
Junji Hiwatashi and Hiroshi Ashida of the Bank of Japan outline a practical framework for operational risk management, derived from research and experiences in Japan's financial community.