Accounting Standards
FRC levies record £33.2m fines against auditors in 2023
Over recent years, the FRC has stepped up its use of fines as part of its efforts to improve the quality of audits
The value of fines levied by the Financial Reporting Council against auditors has hit a record £33.2m in 2022/23, an increase from £32.8m in 2021/22 and £19m in 2020/21, Thomson Reuters has revealed.
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