By Jeff Dale2024-05-14T16:30:00
Crowe U.K. was assessed a penalty of 144,000 pounds (U.S. $181,000) by the U.K. Financial Reporting Council (FRC) for failures in its audit of Aseana Properties Limited’s financial statements for the year ended Dec. 31, 2019.
The FRC reduced its penalty from £180,000 (U.S. $226,000) for cooperation and steps taken to ensure nonrepetition, the regulator announced Tuesday.
The FRC found the reviewed audit unsatisfactory and of poor quality, with specific deficiencies in the carrying value of inventory, assessment of fraud risk, and engagement quality control review oversight.
2024-08-08T17:06:00Z By Adrianne Appel
The Financial Reporting Council ordered a unit Ernst & Young UK to pay 296,000 pounds (U.S. $376,000) over the firm’s 2021 audit of Russia mining group Evraz.
2024-07-15T16:41:00Z By Aaron Nicodemus
The U.K.’s Financial Reporting Council fined audit firm MacIntyre Hudson (MHA) and two employees for breaching the agency’s requirements.
2024-05-07T18:58:00Z By Kyle Brasseur
Big Four firms PwC and EY were each penalized by the Financial Reporting Council for alleged shortcomings during their respective audits at collapsed investment firm London Capital & Finance.
2025-08-21T18:58:00Z By Oscar Gonzalez
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
2025-08-20T21:22:00Z By Adrianne Appel
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
2025-08-18T14:12:00Z By Oscar Gonzalez
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
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