March 24, 2020 / 3:58 PM / 7 days ago

UK audit watchdog offers virus-hit companies more breathing space

LONDON, March 24 (Reuters) - Britain’s listed companies should not press ahead with a requirement to tender out their audit work in current markets, the Financial Reporting Council said on Tuesday.

“The FRC is considering a number of measures including reminding audit firms that current rules allow extensions on auditor rotation and partner rotation by up to two years,” the watchdog said.

Reporting by Huw Jones; Editing by Alison Williams

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