By
Kyle Brasseur2023-01-19T15:10:00
The U.K. Financial Reporting Council (FRC) launched an investigation into Big Four audit firm EY’s work at Stirling Water Seafield Finance.
The probe, announced Jan. 13, is focused on EY’s audit of the financial statements of Stirling for the year ended December 2019. The investigation does not relate to any individuals at this time.
The FRC offered no further details on the specifics of its probe.
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The U.K. Financial Reporting Council announced the launch of two separate investigations regarding audits performed by Big Four firm EY, including a probe into the 2021 financials of collapsed online furniture retailer Made.com.
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The U.K. Financial Reporting Council fined Big Four firm PwC more than £5.6 million (U.S. $6.6 million) for failing to challenge management, obtain sufficient evidence, and follow basic requirements while conducting audits of a British defense contractor and its subsidiary.
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The U.K. Financial Reporting Council launched an investigation into Big Four firm PwC’s audit work at collapsed real estate investment trust Intu Properties.
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It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
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