FRC probing Deloitte work at retailer Joules Group
By 
Kyle Brasseur2023-05-09T13:33:00
The U.K. Financial Reporting Council (FRC) launched an investigation into the work of Big Four audit firm Deloitte at collapsed clothing retailer Joules Group.
The probe, announced Tuesday, is focused on the audit of Joules’s financial statements for the year ended May 30, 2021, according to the FRC. It does not currently relate to any specific individuals. The FRC did not provide any further specifics regarding the investigation.
“We will cooperate fully with the Financial Reporting Council’s investigation and remain committed to the highest standards of audit quality,” said a Deloitte UK spokesperson in an emailed statement.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefFormer Deloitte partner dinged by PCAOB for failures in Bancolombia audit
A former Deloitte partner will pay $75,000 and be barred from working as a public company registered accountant for two years by the Public Company Accounting Oversight Board after violating audit standards during a 2016 audit.
-
PremiumFRC 2022/23 audit inspections: Big Four steady; BDO and Mazars improve
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.
-
News BriefFRC: KPMG audit failings at The Works exacerbated by Covid-19
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.
More from Regulatory Enforcement
-
News BriefFTC sues Uber over deceptive subscriptions, a rare move for consumers by Trump officials
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.