Contains a file of photocopies of the comments received by the APC on the exposure draft auditing guideline, The implications for auditors of the Financial Services Act 1986. [For list of commentators see APC/1/43/10]; a detailed summary of the comments received on the exposure draft; an APC agenda paper for the September 1988 meeting; a draft APC technical release, 'Financial Services Act 1986-Direct communications between the auditor and the supervisory authorities'; a photocopy of a letter, dated 14 October 1988, from the APC secretary to the APC members, enclosing a copy of the minutes of the September meeting; a draft of an article on the Financial Services Act 1986 by the APC chairman, enclosed in a copy memorandum dated 3 August 1988; other annotated copies of the draft article; a draft of the APC technical release, enclosed in a copy memorandum, dated 19 September 1988, commenting upon the document; material relating to the APC's work on Section 109, and Section 180 of the Financial Services Act 1986, following the comments received on the 'implications' exposure draft.
This material mainly consists of drafts of the auditing guideline, Communications between Auditors and regulators under sections 109 and 180(1)(q) of the Financial Services Act 1986; correspondence with the Securities and Investments Board [SIB], and notes of meetings [on 20 January and 9 February 1989] between the APC and SIB, regarding section 180(1)(q) of the Act. Also contains correspondence with the Department of Trade and Industry [DTI]. [A legal opinion concerning a difference of opinion between the DTI and the APC relating to the Financial Services Act 1986 has been removed from the file].