Search Results for: FRC
PwC fined £5m for misconduct in company’s audit
May 12th, 2017
PwC LLP and Stephen Harrison fined for Misconduct in relation to Connaught plc PwC and Stephen Harrison, a retired PwC audit partner, have been severely reprimanded and fined £5m and £150,000 respectively for Misconduct in relation to the 2009 audit ...
Grant Thornton UK fined £2.3m over audit failures
April 24th, 2017
Grant Thornton UK LLP (“GT”) and Robert Napper (a retired GT Partner) (together, the “Respondents”), have admitted Misconduct and agreed to fines and other sanctions. This follows the conclusion of the Financial Reporting Council’s (FRC) investigation relating to the ...
PwC under investigation for a company’s audit
March 2nd, 2017
The Financial Reporting Council (FRC) has commenced an investigation under the Audit Enforcement Procedure into the conduct of PricewaterhouseCoopers (PwC) LLP, in relation to the audit of the financial statements of Redcentric plc (Redcentric) for the years ended 31 ...
Grant Thornton faces probe in Sports Direct deal
November 28th, 2016
Grant Thornton faces probe for signing off arrangement between retailer and firm owned by founder Mike Ashley’s brother The financial reporting watchdog will investigate accountancy firm Grant Thornton for signing off on an arrangement between Sports Direct, majority-owned by ...
Deloitte and Deloitte partner fined £4,000,000 and £150,000 respectively
November 10th, 2016
Deloitte LLP and John Clennett fined for Misconduct in relation to Aero Inventory Plc The Financial Reporting Council (FRC) today announces the outcome of the independent Tribunal’s disciplinary hearing concerning the conduct of Deloitte LLP and the Deloitte partner, ...
KPMG faces disciplinary formal complaints over audit concerns
September 7th, 2016
The Financial Reporting Council’s (FRC) Executive Counsel has delivered disciplinary formal complaints under the Accountancy Scheme and the Actuarial Scheme in connection with the conduct of KPMG LLP, Mr Mark Taylor, Mr Anthony Hulse, members and a member firm ...
AAYP 2016: Five key skills auditors will need in the future
May 10th, 2016
AUDIT teams have the skill sets to meet today’s requirements but changes will be needed to meet the demands of audit in the future. That is the finding of two international research studies published by ICAS and the FRC which examines the skills, ...
EY conflicts of interest issues could affect Royal Dutch Shell-BG Group deal
May 4th, 2016
Conflicts of interest and issues around auditor independence could affect the proposed acquisition of BG Group by Royal Dutch Shell, Manifest has suggested. Analysis by proxy voting agency Manifest ahead of Royal Dutch Shell’s AGM next month has found that EY, ...
Thomson Reuters Enhances Liquidity Access for FX Market Participants with New Regional Data Centers
April 20th, 2016
Additional data centers in New York, London and Tokyo provide improved pricing, market access and workflow for FX market participants across the globe Recognizing the need for FX traders to have efficient access to the best pricing capabilities and ...
Outcome of disciplinary case in connection with Presbyterian Mutual Society
March 1st, 2016
The Financial Reporting Council (FRC) announces the outcome of the disciplinary case in connection with the conduct of Moore Stephens in Northern Ireland (Moore Stephens (NI) LLP) and David McClean, Audit Engagement Partner, in relation to the audit of ...
