The FSA has published finalised guidance setting out a code of practice aimed to enhance communications between external auditors and supervisors of FSA regulated firms. The final guidance appears to be in broadly the same form as the draft version, with one addition. The guidance now makes it clear that the nature of the relationship and information sharing between the FSA and audit firms should be considered not only in the context of the respective roles and responsibilities of auditors and a firm’s management, but also of those charged with the governance of a firm.