FRC closes investigation into Mitie financial statements
The UK’s accounting watchdog has closed its investigation into the finances of support services contractor Mitie.
The Financial Reporting Council (FRC) launched a probe in November 2017 into the “preparation and approval” of Mitie’s financial statements for the year ending March 31, 2016.
Today it revealed that the case is now closed.
In a statement, the FRC said: “The Financial Reporting Council today announces the closure of its investigation under the Accountancy Scheme in relation to the preparation and approval of the financial statements for Mitie Group plc for the year ended 31 March 2016.
“After a detailed review of the evidence, the Executive Counsel has decided that the evidential test for bringing enforcement action is not met. Accordingly, the case has been closed.”
An investigation into Deloitte LLP’s audit of Mitie’s financial statements for the years ended 31 March 2015 and 2016 remains ongoing.