Financial Reporting Council unveils major revisions to UK stewardship code AUDIT The Financial Reporting Council revealed significant updates to the UK Stewardship Code application process, targeting five priority areas designed to drive better outcomes
MHA: UK arm of Baker Tilly International hit with £120,000 fine by regulator FRC The accountancy regulator has issued financial sanctions against MHA, a former partner and a former employee in relation to the audits of MRG Finance UK Plc
Accountancy watchdog launches probe into UK network firm of Baker Tilly International FRC The accountancy watchdog has launched a probe into MacIntyre Hudson over an audit of a unnamed company financial statement
Crowe UK hit with £144,000 sanction for Aseana audit failings May 14, 2024 Accountancy firm Crowe UK has been hit with sanctions by the watchdog over its audit of London-listed Aseana Properties
Grant Thornton fined by audit watchdog for failures with local authority pension fund April 8, 2024 The failures included two uncorrected material errors which appeared in the version of the pension fund’s audited financial statements
Accounting watchdog cuts red tape as ministers press regulators for UK growth January 22, 2024 The City’s accounting watchdog has confirmed a newly slimmed down rulebook for companies today as it looks to ease the red tape burden on firms and “support the growth and competitiveness” of the UK.
Leading lawyer Rachel Kent appointed by Treasury to oversee City watchdog scrutiny December 18, 2023 "The financial services regulators have a significant impact on millions of consumers and firms and it is important that they are subject to effective scrutiny," Kent said.
MPs call on Rishi Sunak to stop delaying audit reform October 29, 2023 A group of MPs and peers have written to the Prime Minister to call on him to include the Audit Reform Bill in King Charles’ state opening of Parliament on Wednesday, November 7.
Labour pledge to overhaul audit and corporate governance regime September 25, 2023 The Labour Party has said it will pass long-awaited legislation on audit and corporate governance reforms if it wins the next general election.
KPMG and PwC slapped with fines of almost £3m for botched Eddie Stobart audits June 29, 2023 Big four accountancy firms PwC and KPMG have been fined a total of nearly £3m over botched audits of logistics giant Eddie Stobart in 2017 and 2018. The Financial Reporting Council (FRC) said this morning it would fine PwC £1.99m and partner Philip Storer £51,000, with both receiving a “severe reprimand.” KPMG received a fine [...]