KPMG, audit, Big Four

20 September, 2017

Audit firm KPMG cleared over HBOS audit after 2007 financial crisis

A regulatory investigation has cleared KPMG over its audit of HBOS bank in 2007 as the financial crisis struck City institutions. The Financial Reporting Council (FRC) announced yesterday that its ...
UK flag, UK government

4 September, 2017

UK government waters down plans to strengthen corporate governance

Watered-down proposals to improve the UK’s corporate governance regime have been
Tesco, Tesco directors

4 September, 2017

Former Tesco directors to stand trial for fraud and false accounting

Three former Tesco directors are set to appear in court over fraud charges relating to the grocer’s accounting black hole. Carl Rogberg, Christopher Bush and John Scouler, formerly Tesco’s UK f...
FRC update, FRC's new website

31 August, 2017

FRC updates mission statement and website to improve transparency

The UK’s governance regulator has set out its mission as “promoting transparency and integrity in business”, as part of an update of its image. The Financial Reporting Council (FRC) has
Greg Clark, business secretary, governance reform

29 August, 2017

Governance reform expands reporting obligation of large UK firms

Large non-listed companies in the UK will have to report on how they take into account the interests of employees, shareholders and the environment in which they operate, in what will be the biggest ...
PwC, pricewaterhousecoopers

17 August, 2017

PwC hit by another £5m fine after admitting failures in RSM Tenon audit

A second £5m fine has hit Big Four accounting firm PwC in four months, issued by the Financial Reporting Council (FRC) over its role as auditor of collapsed fellow accountants RSM Tenon. PwC and s...
Financial Reporting Council, Paul George, FRC

16 August, 2017

More detail of long-term value created by UK companies proposed by FRC

Improved reporting of long-term planning and non-financial matters is being proposed by accounting’s watchdog, the Financial Reporting Council (FRC). A consultation has been launched by the FRC, ...
Tech Data, FRC

9 August, 2017

Ex-Tech Data finance director banned from accounting membership

The former finance director of Tech Data Limited has been banned from membership of his accountancy association for ten years and fined nearly £36,000 for his role in the preparation of his former em...
Stewardship Code, FRC website

3 August, 2017

Investors improve reporting under Stewardship Code, says FRC

A number of investors have improved their reporting of how they approach stewardship, according to the Financial Reporting Council (FRC). The reporting and governance watchdog
Mitie, outsourcing

31 July, 2017

Watchdog launches probe of Mitie audits by Deloitte

A financial regulator in the UK has launched a probe into the audit of troubled outsourcing company Mitie. The Financial Reporting Council (FRC) said this morning it would investigate the audits of...