Audit firm BDO and one of its partners David Roberts have been fined £160,000 by the UK’s accounting watchdog for failing to submit relevant auditing evidence during the audit of insurer AmTrust Europe.

The Financial Reporting Council said the fine had been reduced from £200,000 after BDO admitted to the breaches relating to its 2014 and 2015 audit of the insurer, which operates across Europe, Asia-Pacific and Canada.