- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-08-18T16:30:00
The U.K. Financial Reporting Council (FRC) fined audit firm Mazars 72,000 pounds (U.S. $92,000) for “wide-ranging failings” in its audit of an unnamed market traded company.
The FRC said in a press release Friday the firm’s lack of quality controls caused it to miss a material misstatement regarding the classification of convertible loan notes
Mazars did not identify the misstatement until after the audit, the FRC said. Other areas of concern included the way in which bonus payments were addressed by the firm.
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2024-04-09T17:23:00Z By Kyle Brasseur
Grant Thornton UK was assessed a penalty of £40,000 (U.S. $51,000) by the Financial Reporting Council for alleged procedure failures affecting the firm’s audit of a local authority’s pension fund.
2023-07-06T19:35:00Z By Kyle Brasseur
The U.K. Financial Reporting Council noted overall improvement in annual inspection and supervision results for the largest audit firms for a fourth consecutive year as part of its latest quality review.
2023-04-27T13:32:00Z By Kyle Brasseur
The U.K. Financial Reporting Council fined Big Four audit firm KPMG approximately £1 million (U.S. $1.2 million) for deficiencies in its work on the 2020 year-end financials of discount retailer TheWorks.co.uk.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
2025-05-16T14:16:00Z By Aaron Nicodemus
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
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