News March 2015



8 July 2020
The Financial Reporting Council (FRC) has sanctioned a former audit engagement partner, Mr Kevin Engel, (the Audit Engagement Partner) in respect of Grant Thornton UK LLP’s (the Firm) audit of the financial statements of Conviviality Retail Plc (the Company) for the year ended...
News - Accounting - Audit Monitoring - Auditing
8 July 2020
The Financial Reporting Council (FRC) has fined Grant Thornton UK LLP (Grant Thornton) £3 million (discounted to £1.95 million for admissions and early disposal) for: (i) firm-wide failures to ensure compliance with ethical standards and requirements between 2014 and 2017 and ...
News - Discipline
6 July 2020
Today the FRC has announced its principles for operational separation of the audit practices of the Big Four firms.   The objectives of operational separation, which is world leading, are to ensure that audit practices are focused above all on delivery of high-quality audits...
News - Audit Monitoring - Auditing
3 July 2020
Blog post by Phil Phitz-Gerald of the FRC Lab, setting out reporting expectations investors expect to see in times of crisis.
News - Accounting - Auditing - Corporate Governance - Corporate Reporting - Financial Reporting
2 July 2020
Audit firms have introduced a range of additional measures to enhance their evaluation of companies’ going concern assessments, since the start of the Covid-19 emergency, according to a review initiated and undertaken by the Financial Reporting Council (FRC).
News - Accounting - Audit Monitoring - Going Concern
1 July 2020
Hannah Armitage of the FRC's Financial Reporting Lab updates on work being undertaken by the FRC to address the climate challenge.
News - Accounting - Corporate Governance - Financial Reporting - Narrative Reporting
26 June 2020
Disciplinary Tribunal hearing of a Formal Complaint under the Accountancy Scheme in respect of Deloitte LLP and ICAEW members Richard Knights and Nigel Mercer concerning Autonomy Corporation plc.
News - Accounting - Auditing - Discipline
25 June 2020
In this episode Phil Fitz-Gerald, Director of the FRC Lab, discusses two new reports on investor disclosures during the Covid-19 crisis. 
News - Accounting - Auditing - Corporate Governance - Corporate Reporting - Financial Reporting - Going Concern - Investor Stewardship - Narrative Reporting
25 June 2020
The Financial Reporting Council (FRC) welcomes Amendments to IFRS 17 by the International Accounting Standards Board (IASB), issued today.
News - Accounting - Financial Reporting
24 June 2020
The Financial Reporting Council (FRC) has commenced three investigations into the audits of London Capital & Finance plc for the one month period ended 30 April 2015 (carried out by Oliver Clive & Co.), the year ended 30 April 2016 (carried out by PwC) and the year ended 30 Ap...
News - Accounting - Auditing