Fine
Our coverage on Fine reports on financial penalties imposed within the UK accountancy sector for regulatory breaches, audit failures, and misconduct. Accountancy Today tracks sanctions issued by bodies such as the Financial Reporting Council (FRC), the Financial Conduct Authority (FCA), and the ICAEW, highlighting high-profile cases involving major firms and individuals. We analyse the reasons behind each fine, its impact on firm operations and reputation, and the wider implications for compliance and professional standards. This coverage supports accountants, partners, and compliance leaders in understanding enforcement trends and maintaining best practice.
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Jun- 2025 -20 JuneBusiness
Corporation tax receipts rise 5% in May
UK corporation tax receipts rose 5% in the year to May 2025, reaching £91.5bn, according to HM Revenue and Customs (HMRC). This was up from £86.9bn the previous year. Receipts have more than doubled in the past decade, increasing 112% from £43bn in 2015. This compares with a 57% rise…
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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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May- 2025 -9 MayFeatures
Red Tape Removed? Why the FCA’s shake-up could reshape London IPOs
Last week, (28 April) Nikhil Rathi, CEO of the Financial Conduct Authority, revealed in an interview with the Times a number of proposed changes to the regulations around IPOs, aiming to cut red tape in the City. The proposals are looking to make London a more attractive place for companies…
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Apr- 2025 -10 AprilNews-In-Brief
Today’s news in brief – 10/04/2025
Moore Global has named Nick Ong-Seng as chair of its ethics committee, marking his role as the first non-executive director to also serve on its Global Quality and Standards Board. Ong-Seng, currently global head of governance at Amazon, brings extensive financial leadership experience, including senior roles at Bear Stearns, J.P.…
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10 AprilPeople Moves
Equiom makes two director appointments in Guernsey
Equiom Guernsey has announced the appointment of Alison Parry to the role of executive director of client services and Emily Trebert as associate director of client services. The new additions to Equiom’s leadership structure bring a wealth of expertise to the firm, and “further strengthens its position as a trusted…
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Mar- 2025 -25 MarchNews-In-Brief
Today’s news in brief – 25/3/2025
The Financial Reporting Council (FRC) has fined PwC £4.5m for its inadequate audit of Wyelands Bank’s financial statements for the year ending April 30, 2019. The fine was reduced to £2.89m for PwC’s cooperation. Auditor Jonathan Hinchcliffe was also fined £33,412. The FRC identified failures in risk assessment, compliance audits,…
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Feb- 2025 -28 FebruaryNews-In-Brief
Today’s news in brief – 28/2/2025
Global accounting network Crowe Global reported $5.8bn in revenues for 2024, a 10% increase from the previous year. Growth was particularly strong in Asia Pacific (16%), the Middle East (23%), and Europe (13%). The firm expanded into China, Indonesia, Martinique, and Kosovo while strengthening its core services through acquisitions. CEO…
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28 FebruaryBig Four
PCAOB imposes $2.75m fine on PwC Israel for exam misconduct
The Public Company Accounting Oversight Board (PCAOB) has imposed a $2.75m (£2.18m) fine on PwC Israel for violating its quality control standards, having engaged in training exam misconduct. According to the US industry watchdog, the firm failed to detect or prevent improper answer sharing on tests for mandatory internal training…
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Jan- 2025 -13 JanuaryPeople Moves
Lubbock Fine appoints Rahid Rashid as partner
Lubbock Fine has announced the appointment of Rahid Rashid as its new partner. With 15 years of experience in mergers and acquisitions (M&A), Rashid’s career includes both advisory and in-house corporate finance roles, with positions at ASOS, Cera Healthcare, and Portman Healthcare. He has significant experience in strategy, acquisitions, divestments,…
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6 JanuaryPeople Moves
Lubbock Fine appoints new corporate finance partner
Lubbock Fine has appointed Rahid Rashid as a partner in its corporate finance team. Specialising in mergers and acquisitions, he will be advising clients on buying and selling businesses. Rashid brings with him 15 years of corporate finance experience. Prior to joining Lubbock Fine, Rashid held in-house corporate finance roles…
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