FSA to draft in more accountants
Financial services watchdog enforcement division undergoes major overhaul to improve quality of staff
A sweeping shake-up at the Financial Services Authority will see new staff
brought in from the top accountancy firms.
The City watchdog will instigate a clearout at its enforcement division by
making redundancies, but has recruited employees from top accounting and legal
firms to join the streamlined department, The Daily Telegraph
reported.
An FSA spokeswoman said the new appointments included recruits from outside
the Big Four.
The shift has been made in order to focus on the FSA’s designs to take a more
principles-based stance.
After the redundancies and the new appointments, there will be a 20% net
reduction in staff numbers, but the division will still operate on the same
budget.
