``Under its settlement with regulators, Barclays will be required to hire auditors to verify its Libor submissions for four years, beginning in June 2013. The Royal Bank of Scotland, (RBS.L), is also widely believed to be close to a settlement, probably also requiring it accept audits.

The ICAEW, a global accounting body based in London, has started work on international guidance for such audits, which it hopes to have in place in time for the first Barclays audit next year, ICAEW head of financial services Iain Coke said.''

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