UPDATE 1-UK watchdog launches crackdown on auditor conflicts of interest <!-- no image --> <div>Britain's accounting watchdog the Financial Reporting Council (FRC) has taken action to combat conflicts of interest at audit firms, after a string of scandals in the industry.<div class="feedflare"> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=jUm_qYF9lps:4g0mVarxAgw:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?d=yIl2AUoC8zA" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=jUm_qYF9lps:4g0mVarxAgw:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=jUm_qYF9lps:4g0mVarxAgw:V_sGLiPBpWU" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=jUm_qYF9lps:4g0mVarxAgw:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=jUm_qYF9lps:4g0mVarxAgw:F7zBnMyn0Lo" border="0"></a> </div><img src="http://feeds.feedburner.com/~r/reuters/UKBankingFinancial/~4/jUm_qYF9lps" height="1" width="1" alt=""></div> Posted by Reuters