Search Results for: FRC
PwC fined £10m over audit failures
June 14th, 2018
The Financial Reporting Council (FRC), the UK’s accounting industry regulator, has issued an announcement to inform that has sanctioned PriceWaterhouseCoopers (PwC) and audit partner Steve Denison. In accordance the announcement, the Financial Reporting Council has sanctioned PriceWaterhouseCoopers (PwC) and ...
The Big Four accountancy firms in UK face the threat of a break-up
March 23rd, 2018
The Big Four accountancy firms in UK could be broken up following a wave of scandals at companies they audit that has sparked a ‘crisis of confidence’ in the industry. Deloitte, Ernst & Young, KPMG and Pricewaterhousecoopers are the ...
KPMG is facing a battle to remain as auditor to the Bank of England
November 6th, 2017
KPMG is facing a battle to remain as auditor to the Bank of England as rivals plot to end its decade-long tenure in the prestigious role. Sky News has learnt that officials from Britain’s central bank contacted other accountancy ...
Sanctions against senior auditor and EY
October 17th, 2017
Ernst & Young LLP (EY) and Julian Gray, Senior Statutory Auditor and Audit Engagement Partner, have been fined and reprimanded after admitting Misconduct in relation to the audit of the financial statements of Tech Data Limited (formerly known as ...
Closure of investigation into KPMG’s audit of HBOS plc
September 19th, 2017
The Financial Reporting Council (‘FRC’) announces the closure of its investigation into the conduct of KPMG’s audit of HBOS plc for the year ended 31 December 2007. The Executive Counsel to the FRC has, following a detailed investigation, concluded ...
PwC UK reported record revenue of £3.60bn for the year ended 30 June 2017
September 18th, 2017
PwC UK, the professional services firm, has reported record revenue of £3.60bn for the year ended 30 June 2017, up 5% from £3.44bn last year, as the firm continues to invest in people, technology and its regional presence in ...
Sanctions against senior auditor and PwC
August 16th, 2017
The Financial Reporting Council (FRC), UK’s independent regulator responsible for promoting high quality corporate governance and reporting to foster investment, has issued today an announcement to inform that: PricewaterhouseCoopers LLP (PwC) and Nicholas William Edward Boden, Senior Statutory Auditor ...
Deloitte partner sanctioned
August 11th, 2017
James Rakow sanctioned in disciplinary case relating to Equity Syndicate Management Limited The outcome of the disciplinary case relating to Mr James Rakow, an associate partner with Deloitte LLP, in connection with his provision of actuarial services to Equity ...
PwC under investigation over BT audits
June 29th, 2017
The Financial Reporting Council (FRC) has issued today an announcement to inform that investigation opened into the audit of the financial statements of BT Group plc. According the announcement: Following completion of initial enquiries, the Financial Reporting Council (FRC) ...
Accounting watchdog announces the closure of its investigation into PwC as auditors of Tesco
June 6th, 2017
The Financial Reporting Council (‘FRC’) announces the closure of its investigation into the conduct of PricewaterhouseCoopers LLP (‘PwC LLP’) and certain Members of the Institute of Chartered Accountants in England and Wales in their capacity as auditors of Tesco ...
