British accounting watchdog plans hiring drive to boost oversight of audit firms
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LONDON (Reuters) - Britain's accounting watchdog, the Financial Reporting Council (FRC), announced plans on Wednesday for a hiring drive to strengthen its oversight of audit firms.The FRC said it plans to recruit more than 100 staff including lawyers and forensic accountants to speed up its enforcement investigations.The watchdog also plans to extend its monitoring of auditing companies from the big four accountants to smaller firms, while it also wants to increase the number of audit quality..