Financial Reporting Council (FRC)
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Jul- 2022 -28 JulyRegulators
FRC reports record financial sanctions of £46.5m in past year
The Financial Reporting Council (FRC) has announced its annual enforcement review which revealed it resolved a record number of cases…
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25 JulyAccounting Standards
100% of Grant Thornton’s audits deemed ‘good’, FRC finds
The Financial Reporting Council (FRC) has found that 100% of Grant Thornton’s audits which were inspected were deemed as “good”…
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18 JulyRegulators
FRC urges audit firms to address exams cheating
The Financial Reporting Council (FRC) has sought assurances from both audit firms and professional bodies in the accounting industry regarding…
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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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