Search Results for: Financial Reporting Council
Investigation into KPMG in connection with The Bank of New York Mellon’s compliance with the FSA’s client asset rules
June 23rd, 2015
The Financial Reporting Council (FRC) has launched an investigation under the Accountancy Scheme into the conduct of KPMG Audit plc, auditors to The Bank of New York Mellon London branch and The Bank of New York Mellon International Limited, ...
EU report: international accounting rules did not worsen 2008 crisis
June 22nd, 2015
The European Commission said on Friday there was no clear evidence that adopting international accounting rules made the bloc’s banking crisis worse and that its benefits outweighed the costs. The independent International Accounting Standards Board (IASB) rules replaced a ...
Top news of the day, June 02
June 2nd, 2015
Latest news: 1. European leaders and the head of the International Monetary Fund agreed to step up the intensity of talks over Greece’s fate after an extraordinary meeting in Berlin about ways to avert a default. The top-level huddle ...
Sanctions for Deloitte on MG Rover case
April 14th, 2015
The Financial Reporting Council (FRC) publishes the final report of the Appeal Tribunal on sanctions in the hearing against Deloitte & Touche, who were advisers to MG Rover Group, and Mr Maghsoud Einollahi who was a partner at Deloitte ...
UK watchdog hands KPMG fines totalling £390,000
February 4th, 2015
The UK accountancy watchdog said on Tuesday it had fined KPMG a total of £390,000 for putting commercial considerations above ethical standards for auditors in two separate cases of misconduct that stretch back to 2010 and 2011. In the ...
Accounting watchdog warns retailers after Tesco scandal
December 8th, 2014
British retailers must provide clear information to investors about their income from suppliers, the country’s accounting watchdog said on Monday as it investigates a book-keeping scandal at leading supermarket Tesco (TSCO.L). Tesco has admitted overstating half-year profits by 263 ...
Tesco boss Dave Lewis overhauls management structure amid accounting scandal
December 2nd, 2014
Tesco’s newly appointed CEO Dave Lewis has overhauled the management structure of the British retailer in the wake of an accounting scandal that led to eight managers being suspended. Lewis will temporarily head UK operations as the current managing ...
Britain’s Fraud Office launches probe into Tesco accounting scandal
October 30th, 2014
Britain’s Serious Fraud Office (SFO) has opened a formal criminal investigation into accounting errors at Tesco (TSCO.L), raising the stakes in a scandal that has hammered the reputation of the country’s biggest grocer. Already battling challenges on multiple fronts, ...
Britain’s audit watchdog revises corporate governance code
September 17th, 2014
Britain’s audit and accounting watchdog has overhauled its corporate governance code for UK companies, it said on Wednesday, to make them safer for investors by giving more information about how they are run and an assessment of any potential ...
Accountant gets three year ban over audit failures
September 16th, 2014
A tribunal has excluded an ICAEW member from membership of the profession for three years following a Financial Reporting Council (FRC) investigation over audit failures. The accountant, Paul Newsham was a former partner, Sixthreeone Limited (formerly known as HWCA), ...
