Financial Reporting Council

U.K. Proposes Reforms to Upgrade Audit Sector
Regulation

U.K. Proposes Reforms to Upgrade Audit Sector

“It's clear from large-scale collapses like Thomas Cook, Carillion and BHS that Britain's audit regime needs to be modernized."
By Matthew Heller | March 18, 2021
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Deloitte Fined Record $19M Over Audit Failures
Risk & Compliance

Deloitte Fined Record $19M Over Audit Failures

A U.K. investigation found the Big Four firm liable for “serious and serial failures” in its audits of software firm Autonomy.
By Matthew Heller | September 18, 2020
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Deloitte to Create Independent Audit Board
Risk & Compliance

Deloitte to Create Independent Audit Board

The new board is part of Deloitte's plan to implement U.K. regulatory changes after a series of high-profile audit failures at Big Four accounting firms.
By Matthew Heller | September 11, 2020
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Big Four Heading for Audit Shakeup in U.K.
Regulation

Big Four Heading for Audit Shakeup in U.K.

The U.K.'s accounting watchdog has asked the firms to submit a plan by Oct. 23 for separating their audit and consulting businesses.
By Matthew Heller | July 7, 2020
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PwC Fined Over Audit Failure
Risk & Compliance

PwC Fined Over Audit Failure

The company was fined $5.8 million over its audit of technology firm Redcentric.
By Lauren Muskett | June 13, 2019
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U.K. Fines KPMG $4M for Audit Deficiencies
Risk & Compliance

U.K. Fines KPMG $4M for Audit Deficiencies

The firm admitted its audits of scandal-plagued Quindell plc fell “significantly short” of professional standards.
By Matthew Heller | June 11, 2018
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UK Watchdog Fines PwC $6.6M Over Audit
Risk & Compliance

UK Watchdog Fines PwC $6.6M Over Audit

The record fine punishes PwC for "extensive" misconduct in its audit of professional services firm RSM Tenon.
By Matthew Heller | August 16, 2017
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British Accounting Watchdog Investigating KPMG
Risk & Compliance

British Accounting Watchdog Investigating KPMG

The U.K. Financial Reporting Council is looking at whether KPMG adequately reported on Bank on New York Mellon's compliance with safe-keeping rules.
By Katie Kuehner-Hebert | June 23, 2015
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