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The Financial Reporting Council (FRC) has launched four investigations into accountants, auditors and firms handling the financial statements of Market Financial Solutions and connected companies.
The UK accounting regulator commenced the probes following a decision by its conduct committee on 21 April 2026. Executive counsel will lead the investigations, which focus on financial years ended 31 December 2024.
One investigation under the accountancy scheme focuses on the conduct of Magus Chartered Accountants and two individual accountants.
A separate probe under the same scheme involves the conduct of another individual accountant.
The regulator is also investigating the statutory audit of Market Financial Solutions by Berkeley Finch. A fourth investigation under the audit enforcement procedure targets the statutory audit of Zircon Group consolidated financial statements by Silver Levene UK.
The watchdog stated that the opening of an investigation does not mean it has made or will make findings of breach or misconduct. It added that the announcement does not evidence investigations into any other persons or entities.
