Financial Reporting Council

1-15 of 15 Articles
Clock icon 4 minutes

Big Four firm KPMG is set to be fined £14.4 million after a Financial Reporting Council (FRC) tribunal found that its auditors deliberately misled regulators during routine inspections of its audit of collapsed government contractor Carillion. The £14.4m fine for KPMG would be the second

Clock icon 2 minutes

Accountancy firm Grant Thornton has been slapped with a financial sanction of nearly £720,000 in connection with failings in its audits of Interserve. Interserve, a major outsourcing company, went into administration in 2019 after financial restructuring plans drawn up by the company’s l

Clock icon 2 minutes

The Financial Reporting Council’s (FRC) executive counsel has delivered a disciplinary Formal Complaint, under the Accountancy Scheme, against KPMG, a former KPMG partner and certain current and former KPMG employees relating to the audits of Carillion. The Formal Complaint alleges misconduct

Clock icon 1 minute

Sir James Wates, chairman of the Wates Group, has today issued an article for the Financial Reporting Council (FRC) which provides some insight into reporting against the Wates Principles for large private companies. The article names a number of companies that have embraced the

Clock icon 5 minutes

Galliford Try has been ordered by the Financial Reporting Council (FRC) to restate its 2018 accounts after an investigation found the company should not have recognised an £80 million claim recoverable from Transport Scotland on the Aberdeen Western Peripheral Route (AWPR) contract when it did

Clock icon 1 minute

An investigation has been launched into the financial statements of Interserve. Accounting watchdogs at the Financial Reporting Council are to examine audits by Grant Thornton for the three years from 2015.

Clock icon 2 minutes

The accountancy watchdog has announced an expansion of its probe into KPMG’s audit of Carillion for the second time. The Financial Reporting Council (FRC) says it will now look into work on the collapsed contractor’s 2013 accounts but it did not say why it has wi

Clock icon 2 minutes

The Financial Reporting Council (FRC) has launched an investigation into financial statements of construction materials supplier SIG. The inquiry centres around the audit by Deloitte of the company’s accounts for the years ended 31 December 2015 and 2016.

Clock icon 3 minutes

The Financial Reporting Council (FRC) has today opened an investigation under the Audit Enforcement Procedure in relation to KPMG’s audit of the financial statements of collapsed construction and services firm Carillion. The accountancy watchdog said it took the step following enquiries made since

Clock icon 2 minutes

The UK’s accounting watchdog has launched another investigation into the finances of troubled support services contractor Mitie. The Financial Reporting Council (FRC) said today that it would be looking into the “preparation and approval” of Mitie’s financial statements for the year ending M

1-15 of 15 Articles