Spending watchdog to investigate FSA

Speaking yesterday, Sarah McCarthy-Fry, Exchequer Secretary to the Treasury, announced the NAO would perform a full audit of the regulator. The move has been welcomed by AIFA, which says the FSA's budget has ‘rocketed' in recent years. In a statement, McCarthy-Fry says: "I am pleased to announce today that the Financial Services Authority has decided to appoint the Controller and Audito General as its financial auditor from the next financial year, 2010-11. "That will enable the Public Accounts Committee to receive and investigate reports into aspects of the economy, efficiency and...