Financial Reporting Council

New audit watchdog set to go after non-accountant directors

Government to press ahead with plan to hold top staff at firms accountable as Arga finally gets nearer

3 min read

PwC fined £4.5m over Wyelands Bank audit

Big Four firm and partner sanctioned by audit regulator for not understanding the extent of Wyelands’ ties to the Gupta Family Group Alliance

2 min read

Shopping centre-owner Intu collapsed in 2020, putting auditors in the spotlight

PwC cleared in Intu Properties audit probe

Regulator drops investigation into PwC’s audits of property firm Intu

1 min read

'Proportionality of any new requirements is essential' says business secretary Badenoch

Audit watchdog must help UK economy grow, government says

Audit watchdog instructed to help boost UK’s competitiveness as part of government’s growth push

2 min read

More than a quarter of FRC staff said they suffered from high anxiety, survey obtained by FN finds

Anxious, underpaid and scared of bosses: FRC staff reveal life at the audit watchdog

Forty-nine FRC staff said they had seen someone else being bullied or treated unfairly at the regulator in the previous 12 months

3 min read

Under Sir Jon Thompson’s watch, the FRC has been preparing for the switch, which requires legislation from the government

FRC chief executive set for exit to lead HS2

Sir Jon Thompson will continue as chief executive of the FRC on a part-time basis until the end of his six months’ notice period

2 min read

FN rounds up what you need to know about a dramatic week in front of a tribunal

How KPMG’s tough week unfolded at Carillion tribunal

KPMG and its ex-staff are accused of forging documents to mislead their regulator

The growth in the FRC's legal bench comes amid its transition to a new regulator: the Audit, Reporting and Governance Authority

Audit regulator doubles lawyer staff in bid to ‘speed up’ City investigations

Legal staff jump from 15 to 27 as the regulator looks to a beefed up future

Grant Thornton chief executive David Dunckley was blasted by MPs in 2019 after he told a parliamentary committee it was not an auditor's job to look for fraud following the discovery of a black hole in the accounts of cake shop Patisserie Valerie, which his firm audited

Tougher audit standards fall short on fraud, shareholder group says

Pirc criticised the 'defeatist' text for giving excuses to auditors who miss fraud

Deloitte and former partners Richard Knights and Nigel Mercer were culpable of serious and serial failures in their audit of Autonomy, the 6 January report from the audit watchdog said

Here’s why the audit watchdog hit Deloitte with a record £21m fine for Autonomy audit

'If Deloitte had required Autonomy to present the truth surrounding its pure hardware sales to the market, there would have been a significant effect on the market'