Monday, April 9, 2018

Under fire accountancy watchdog to increase fines on big audit firms

The Financial Reporting Council (FRC) now has the power to fine the Big Four auditors - Deloitte, PwC, EY and KPMG - more than £10m for "seriously poor audit work". ... Last year, the FRC cleared KPMG over its auditing of mortgage lender HBOS, which had to be rescued by the government in 2008.
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