FRC probing Mazars audit of Studio Retail Group
By 
Kyle Brasseur2022-10-06T17:14:00
The U.K. Financial Reporting Council (FRC) on Thursday announced it opened an investigation into accounting firm Mazars regarding its audit of financial statements at Studio Retail Group.
The probe will focus on the Mazars audit for the period ended March 26, 2021, and is only related to the firm at this time, the FRC acknowledged in a press release. The decision to launch an investigation was made at a September meeting of the regulator’s conduct committee.
“Mazars is cooperating fully with the regulator and, respecting client confidentiality and due process, will provide no further comment during the course of the investigation,” the firm said 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
-
ArticleFRC finalizes $17.4M fine against KPMG for Carillion, Regenersis dishonesty
KPMG was fined £14.4 million (U.S. $17.4 million) and severely reprimanded for providing false and misleading information relating to its audits of construction company Carillion and software business Regenersis.
-
ArticleFRC probing Deloitte over Go-Ahead audits
The U.K. Financial Reporting Council has launched an investigation into Deloitte regarding its audits performed at passenger transport company Go-Ahead Group.
-
Article
FRC expands probe of PwC’s Babcock International audits
The U.K. Financial Reporting Council has expanded its investigation into PwC over its statutory audits of British defense contractor Babcock International Group to include the fiscal years ended March 31, 2019, and March 31, 2020.
More from Regulatory Enforcement
-
ArticleFrench investigators target anticompetitive practices in largest accounting firms
Major accountancy firms in France are under investigation for anti-competitive practices. The French competition watchdog embarked on a series of “unannounced inspections” and removed documents relating to audit and reporting on Jan. 13.
-
ArticleEU investigation into Grok may expose problems with DSA rather than compliance failings
The European Commission has launched a formal investigation against Elon Musk’s X under the Digital Services Act over fears that its AI tool Grok may be producing and disseminating illegal material.
-
ArticleFormer ADM execs inflated operating profits, SEC alleges
Three former executives at Archer-Daniels-Midland intentionally misled investors by inflating the performance of the company’s Nutrition unit, the U.S. Securities and Exchange Commission has alleged.