UK audit watchdog gives virus-hit companies breathing space
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LONDON (Reuters) - Britain's listed companies should not press ahead with a requirement to tender out their audit work in the current market, the Financial Reporting Council (FRC) said on Tuesday.Companies are required to put out their audit work to tender at least every 10 years to try to stop accounting firms becoming too cosy with clients to challenge them about their figures.In common with other regulators, the FRC said it wanted to provide pragmatic guidance and solutions to ensure as far..