News August 2021



14 January 2022
The Disciplinary Tribunal Hearing of the Formal Complaint against KPMG and others, which started on 10 January 2022 via remote proceedings, will take place in-person from Monday, 17th January 2022. 
News - Accounting - Auditing
7 January 2022
The Financial Reporting Council (“FRC”) has commenced an investigation in relation to the audits conducted by MacIntyre Hudson LLP (trading as MHA MacIntyre Hudson) of the financial statements of MRG Finance UK plc for the years ended 31 December 2018 and 31 December 2019. ...
News - Accounting - Auditing
5 January 2022
Pursuant to the Auditor Regulatory Sanctions Procedure, the FRC’s Enforcement Committee (the Committee) has concluded that Mazars LLP (Mazars) failed to comply with the Regulatory Framework for Auditing in its audit of a local government authority’s 2019 financial statements. 
News - Accounting - Audit Monitoring - Auditing
21 December 2021
Business Secretary Kwasi Kwarteng has today announced that Jan du Plessis is the Government’s preferred candidate to become the new Chair of the Financial Reporting Council (FRC)
News - Accounting - Auditing - Corporate Governance
17 December 2021
The Financial Reporting Council (FRC) has today published the latest list of companies whose reports and accounts have been reviewed by its Corporate Reporting Review function.
News - Accounting - Corporate Reporting
16 December 2021
The hearing of the Formal Complaint of ­the Executive Counsel to the Financial Reporting Council (“FRC”) under the Accountancy Scheme against KPMG LLP, a former KPMG partner, and certain current and former KPMG employees will begin on 10 January 2022.
News - Accounting - Audit Monitoring - Auditing - Discipline
14 December 2021
The Financial Reporting Council (FRC) has conducted a review of the assumptions set within Actuarial Standard Technical Memorandum 1 (AS TM1) that are mandated for use in the annual Statutory Money Purchase Illustrations (SMPIs) received by people saving for retirement in defi...
News - Actuarial
9 December 2021
Aligning culture with purpose, values and strategy can strengthen a company’s business model, help to better manage resources and be more equipped to face future challenges, according to a new report issued today by the FRC.   Creating positive culture – opportunities and ch...
News - Corporate Governance
7 December 2021
The FRC has today published a revised Audit Enforcement Procedure (“AEP”) and feedback statement. This follows consideration of the responses received to the consultation launched on 22 July 2021 regarding proposed amendments to the AEP.  
News - Financial Reporting
7 December 2021
The FRC has today issued FRED 79 FRS 101 Reduced Disclosure Framework – 2021/22 cycle, which proposes no amendments to FRS 101 as a result of its latest annual review.
News - Accounting