Enforcement
Our coverage on Enforcement examines regulatory actions and disciplinary proceedings affecting UK accountancy firms and professionals. Accountancy Today reports on enforcement activities by bodies such as the Financial Reporting Council (FRC) and HM Revenue & Customs (HMRC), highlighting cases involving audit failures, breaches of professional standards, and non-compliance with tax obligations. We provide insights into recent sanctions, including fines and bans imposed on firms and individuals, and analyze the implications of these actions for audit quality, corporate governance, and professional accountability. This coverage supports accountants, partners, and compliance officers in understanding the evolving enforcement landscape and its impact on the accountancy profession.
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Jul- 2025 -10 JulyAudit
FRC opens investigations into Stenn audits by Azets and Deloitte
The Financial Reporting Council (FRC) has launched investigations into the statutory audits of Stenn Assets UK Limited and Stenn International Limited by Azets Audit Services and Deloitte. Stenn, a UK invoice-financing company, entered administration in December 2024 after one of its lenders flagged suspicious transactions. The FRC is examining Azets’…
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Jun- 2025 -13 JuneAudit
FRC fines KPMG £690k over auditor independence breach
The FRC has fined KPMG £690,625 for breaching auditor independence rules in its 2021 audit of Carr’s Group by relying on work carried out by a non-network component auditor. The UK accounting regulator also imposed a £38,675 fine on KPMG’s audit engagement partner Nick Plumb, who was the statutory auditor…
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9 JuneAccounting Standards
ACCA calls for simplification of EU sustainable financial reporting rules
Global accountancy body the Association of Chartered Certified Accountants (ACCA) is calling for the simplification of European Union sustainable financial reporting rules. ACCA has told the European Commission (EC) that the nature of its sustainable finance disclosure rules is hindering the sustainability practices of some businesses. To achieve effective implementation…
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Apr- 2025 -30 AprilNews-In-Brief
Today’s news in brief – 30/4/2025
CHW, a Bolton-based accountancy practice, will rebrand as Cowgills at the end of April, solidifying its identity within the Cowgills group, which it joined via a 2016 acquisition. The change supports Cowgills’ wider strategic goals following its recent acquisition of NRB in Wigan and integration into the Sumer Group in…
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17 AprilSponsored
Outdated expense systems expose financial pressure points for UK workers – and operational gaps for employers
A new Airwallex report – Reimbursement Frustrations, reveals urgent need for finance leaders to modernise reimbursement processes to support staff and safeguard company cash flow. A new report from global fintech platform Airwallex has highlighted a widespread issue in UK businesses: outdated and inefficient expense reimbursement systems. According to the…
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8 AprilNews-In-Brief
Today’s news in brief – 8/4/2025
Xeinadin has expanded its southern UK presence by acquiring JCS Accountants in Surrey and Mudd Partners LLP in Essex. The move enables deeper collaboration across offices, especially in audit and digital services. JCS, founded in 1927, brings nearly 100 years of experience serving charities and family businesses. Mudd has rebranded…
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8 AprilRegulators
FRC investigates BDO’s Home REIT 2021 audit
The FRC has opened an investigation into the statutory audit of Home REIT plc by BDO LLP for the year ended 31 August 2021. The decision to commence the investigation was made at a meeting of the FRC’s Conduct Committee on 17 December 2024. The council has said that investigation…
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Mar- 2025 -24 MarchCompanies
FRC relocates London office to Canary Wharf
The Financial Reporting Council (FRC) has relocated its London office from London Wall in Moorgate to Harbour Exchange in Canary Wharf. The move to the new office follows on from the successful opening of its Birmingham office last year, which now hosts 10% of its workforce. The group recently also…
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21 MarchRegulators
FRC unveils three-year strategy to help boost UK growth
The FRC has unveiled plans to continue serving the public interest while actively supporting UK economic growth in a newly published three-year strategy. The new strategy for 2025-28 and annual business plan and budget for 2025-26 set out a series of important changes intended to continue to support businesses and…
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18 MarchNews-In-Brief
Today’s news in brief – 18/3/2025
Xeinadin has acquired Raffingers, a top 100 London-based accountancy firm, in its largest acquisition to date. This move adds 70 team members and follows recent acquisitions of Landmark Accountants and CB Reid. Raffingers specializes in recruitment, charity, property, and construction sectors, offering services like COP8 and COP9 HMRC enquiries, corporate…
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