Financial Reporting Council (FRC)
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May- 2022 -13 MayBig Four
KPMG to receive £14m fine over Carillion audit
KPMG is set to pay a £14.4m fine over its audit of Carillion after a tribunal found former members of…
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Apr- 2022 -21 AprilAccounting Firms
FRC fines Deloitte £2m over Mitie Group audit breach
The Financial Reporting Council (FRC) has issued a financial sanction of £2m against Deloitte LLP and its audit engagement partner,…
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Jan- 2022 -27 JanuaryAudit
ACCs ‘particularly alert’ to auditor tendering process, FRC finds
Audit committee chairs (ACCs) are “particularly alert” to quality during the auditor tendering process, with mandatory tendering being seen as…
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24 JanuaryFeatures
Enhancing data sharing for financial services
According to Grant Thornton, there has been a “shift in demand” from the market and regulators to provide additional benefits…
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17 JanuaryAudit
FRC to investigate PwC’s Babcock audits
The Financial Reporting Council (FRC) has commenced an investigation into the statutory audits by PricewaterhouseCoopers LLP (PwC) of Babcock International…
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5 JanuaryRegulators
FRC fines Mazars £314,000 for audit failings
The Financial Reporting Council (FRC) has issued a £314,000 sanction to Mazars for its audit of a local government authority’s…
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Dec- 2021 -22 DecemberPeople Moves
Gov nominates Jan du Plessis to lead FRC
Business secretary Kwasi Kwarteng has announced that Jan du Plessis is the government’s preferred candidate to become the new chair…
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17 DecemberBig Four
FRC to begin hearing of KPMG audit of Carillion in January 2022
The Financial Reporting Council (FRC) will begin its hearing of the Formal Complaint of the Executive Counsel against KPMG in…
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6 DecemberRegulators
FRC unveils 2022/23 supervisory target areas
The Financial Reporting Council (FRC) has unveiled its areas of supervisory focus for 2022/23, in relation to corporate reporting reviews…
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1 DecemberRegulators
FRC finds ‘room for improvement’ in stewardship reporting
The Financial Reporting Council (FRC) has argued there is still room for improvement in the way stewardship reporting is explained.…
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