Investigation regarding four audits by King & King
04 May 2022
This Press Notice concerns the opening of an investigation into the relevant Statutory Auditor(s). The investigation does not relate to any persons other than the relevant Statutory Auditor(s) and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities.
The Financial Reporting Council (“FRC”) has commenced four investigations in relation to the statutory audits by King & King of:
- the consolidated financial statements of Liberty Speciality Steels Limited for the year ended 31 March 2019;
- the financial statements of Alvance British Aluminium Limited (formerly Liberty Aluminium Lochaber Ltd) for the year ended 31 March 2019;
- the financial statements of Liberty Steel Newport Limited for the year ended 31 March 2019; and
- the financial statements of Liberty Performance Steels Limited for the year ended 31 March 2020.
The decisions were made at a meeting of the FRC’s Conduct Committee on 22 February 2022.
The investigations will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure.