The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
Internal Investigations
Posted inAccounting & Auditing
Investigation into EY’s audit of Danske Bank dropped
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
Posted inAnti-Bribery
SFO closes bribery investigation into ABB
The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”
Posted inAccounting & Auditing
FRC probes KPMG, PwC over audits of Eddie Stobart Logistics
The U.K. Financial Reporting Council has launched investigations into Big Four firms KPMG and PwC concerning the audits of U.K. logistics company Eddie Stobart Logistics.
Posted inRegulatory Enforcement
SEC: Enforcement efforts still extend beyond coronavirus
Steven Peikin, co-director of the SEC’s Enforcement Division, said while coronavirus-related matters remain a top priority for the agency, “our other priorities also remain in place.”
Posted inAccounting & Auditing
Luckin Coffee fires CEO, COO over accounting scandal
Luckin Coffee, the China-based equivalent of Starbucks roiled by allegations of fabricating millions in 2019 sales, has fired its CEO and reshuffled top leadership as part of its ongoing internal probe.
Posted inInternal Investigations
Embattled Wirecard appoints new CCO
Under investigation for suspected market manipulation, Wirecard has named James Freis as its new chief compliance officer amid several organizational changes.
Posted inInternal Investigations
Seven tips for internal investigations in the age of coronavirus
For companies, compliance professionals, and lawyers who are currently conducting or about to begin complicated internal investigations remotely, we suggest a few practical pointers.
Posted inRegulatory Enforcement
Alexion nears $25M settlement with SEC in FCPA probe
Alexion Pharmaceuticals said in a regulatory filing that it is nearing a $25 million settlement with the Securities and Exchange Commission concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act spanning various countries.
Posted inAccounting & Auditing
EY audit of NMC Health under investigation
The U.K. Financial Reporting Council has opened an investigation into EY’s audit of the 2018 financial statements of NMC Health, which is currently under investigation for accounting fraud.
