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FRC could be allowed to settle outstanding cases

17 October 2011

Move to clear up FRC backlog could end need to go to a tribunal

The FRC could be given the power to negotiate settlements with misbehaving accountants and firms. If approved by the government the FRC would issue spot fines rather than forcing everyone to a tribunal.
The FRC currently has 12 cases on its books, some of which go back five years.
FRC boss Stephen Harrill told the FT that reprimands could invole no admission of guilt. He has stressed that he will be asking the government for greater powers to demand information.

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