KPMG, audit, Big Four

12 June, 2018

KPMG fined over audit work at Quindell

The auditor of controversial insurance outsourcer Quindell has been fined more than £3m over its work with the client. KPMG was reprimanded and fined £4.5m (discounted for settlement at £3.15m),...
Carillion, FRC

20 March, 2018

Former FDs at Carillion face probe over financial statements

Two finance directors are to be investigated for their conduct in preparation of financial statements at the collapsed construction giant Carillion. Zafar Khan and Richard Adams, both former group ...
investment, shares, stocks, stock market

2 February, 2018

ICGN calls for inclusion of buy-backs in governance code

The UK Corporate Governance Code should address the use of share buy-backs, according to George Dallas, policy director of the International Corporate Governance Network (ICGN). A new revision of t...
Rio Tinto

27 November, 2017

Investor ire sees Sir Mick Davis’s Rio Tinto chairmanship plan shelved

Investor agitation has forced Rio Tinto to backtrack on plans to appoint Conservative Party CEO Sir Mick Davis as chairman. The Investor Forum, a group of shareholders which represents some 20% of ...
Rio Tinto

14 November, 2017

Conservative Party CEO lined up for mining return with Rio Tinto

Conservative Party chief executive Sir Mick Davis could be set for a return to the mining industry, with reports suggesting he will take over from Jan Du Plessis as Rio Tinto chairman. Sir Mick was...
Rio Tinto

19 October, 2017

Ex-Rio Tinto CEO and CFO charged with fraud over ‘inflated’ asset values

The former CEO and CFO of Rio Tinto have been charged with fraud by the US Securities and Exchange Commission (SEC), after allegedly inflating the value of its ill-fated Mozambique coal mine acquisiti...
Audit tendering

11 October, 2017

Corporates must get to grips with new accounting standards, says FRC

The implementation of critical and heavy-impact accounting standards by corporates will be a focus of attention for the financial watchdog in the coming year, alongside a need for better linking of st...

5 October, 2017

Investigation into PwC’s client asset reporting at Barclays closes

Accountancy’s watchdog has closed a three-year investigation into Barclays’ auditor PwC, after deciding there was “not a realistic prospect” of winning a tribunal. The Financial Reporting C...
Telit Communications, Oozi Cats, Telit

28 September, 2017

Telit’s governance tidy-up includes financial review and cost-cutting

An external review of finances and an ongoing search for a new chairman form part of Telit Communications’ plan to tidy up its governance affairs following the resignation of its CEO in August. I...
financial reporting, audit, accounts, accounting, stakeholder engagement

14 September, 2017

Ethics must be ‘front and centre’ as non-executives check financial reports

Non-executive directors must place ethics "front and centre" of their efforts to make sure financial reports present a true and fair view of a business, according to one of the UK’s most senior gove...