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The Financial Reporting Council (FRC) has obtained the first of the audit working papers located in the Mainland that it requires to carry out its investigations into possible auditing irregularities. This marks a critical milestone in cooperation between the Supervision and Evaluation Bureau (SEB) of the PRC Ministry of Finance and the FRC.  Mr Marek Grabowski, CEO of the FRC said: “We extend our sincere gratitude to the SEB for all the assistance and support rendered in obtaining access for us to these working papers. I look forward to extending the excellent spirit of co-operation between us across the full scope of our regulatory functions of inspection, investigation and discipline. "  Dr Kelvin Wong, Chairman of the FRC remarked, “This demonstrates that the MoU works well for the FRC to extend our cross-boundary auditor regulatory functions through the cooperation with the SEB.  A strong foundation has been laid to build a strategic relationship between the SEB and the FRC. "

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