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Tag: Financial Reporting Council

Partner sanctioned

EY and Harvey fined over Stagecoach audit

Mark Harvey
Mark Harvey: moved on Big Four accountant EY has been fined £3.5 million and former audit engagement partner and Scotland senior partner Mark Harvey £100,000 over an audit of StagecoachRead More

Tribunal verdict

KPMG fined £13m over Silentnight sale misconduct

KPMG
KPMG ‘regrets standards were not met’ Big four accountant KPMG has been fined £13m and ordered to pay more than £2.75m in costs, for serious misconduct in the sale ofRead More

New watchdog created

Financial Reporting Council axed after audit failures

Carillion sign
Carillion’s collapse triggered calls for change   The watchdog for the accountancy profession is to be scrapped after being criticised over the failure of auditors to spot high profile companyRead More

CMA demands change

Big Four accountants face shake-up over audit failures

Carillion sign
The failure of Carillion this year brought concerns over audits to a head   Big Four accountancy firms will be forced to split their advisory and audit work in responseRead More

Field to meet Insolvency Service boss

MPs demand tougher action on directors of failed firms

Bhs Edinburgh
Bhs Edinburgh before it closed in one of the biggest retail collapses of recent times (pic: Terry Murden)   Regulators are being asked to toughen up their response to directorsRead More

Break with other big four firms

KPMG halts non-audit work amid ongoing probes

First mover: KPMG is the first of the big four to stop providing non-audit services   KPMG will stop providing non-audit work for FTSE 350 companies whose accounts it monitors,Read More

Review of governance

Code review aims to boost trust in big business

Carillion sign
New moves to control the behaviour of company boards and improve public trust in big business are published today.

Rebuke for accountants

KPMG targeted as Big Four told to improve audit work

The Big Four accounting firms have been told to improve their auditing work following a decline in performance.

Biggest ever penalty

PwC and partner fined over Bhs audit failures

British Home Stores Bhs
PwC has received the biggest fine ever issued by the auditors' watchdog

Investigation into auditor closed

KPMG cleared over audit of HBOS figures

Bank of Scotland branch
Accountancy firm KPMG has been cleared of any shortcomings in its audit of failed bank HBOS..