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Technical updates April 2013

Our round-up of legal and regulatory changes

The Financial Reporting Council (FRC) has confirmed that it will adopt the International Auditing and Assurance Standards Board’s (IAASB) proposed improvements to the auditing standards on the external auditor using the work of internal audit.

Subject to consulting on the timing of implementation, it will also rule out the direct use of internal audit staff as members of audit engagement teams.