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Following the identification and documentation of shortcomings in several audit procedures, the Financial Services Authority (FSA), represented by the Professional Conduct Committee, issued a warning to “Account for Accounting and Auditing Services” for the failure of certain audit files to meet the required professional standards. The observations included the adequacy of audit evidence and the documentation of the nature and extent of procedures performed during audit engagements, in contravention of the principles governing the accounting and auditing profession and the requirements of the applicable International Standards on Auditing. The Committee also decided to require the two owners of the office, within a period of three months, to implement seveal regulatory directives aimed at enhancing professional competence and improving the quality of the office’s work, thereby ensuring compliance with the provisions of the law and international standards and raising the standard of professional practice in accounting and auditing activities.