Island's auditors 'competent' - Europe

Commission's nod to FSA

Business prospects post-Brexit have been given a boost after a nod to the Island from the European Commission.

The Isle of Man Financial Services Authority was recently declared a 'competent' body for its controls on certain auditors.

Under FSA rules, those who audit firms with securities tied to Europe are bound by strict regulation - the EC's commendation gives those regulations official approval.

Despite only affecting a handful of businesses, the Manx government considers it a 'positive endorsement' and a testiment to the Island's 'international standard'.