Frc

The Financial Reporting Council (FRC) has closed its investigation into KPMG over the auditing firm's work on Entain, the owner of Ladbrokes. The probe, announced in January 2025, centred on Entain's financial statements for the year ended 31 December 2022. It followed significant legal troubles for

The accountancy regulator has issued what it describes as the world's first guidance on the use of artificial intelligence in auditing, making clear that firms cannot hold the technology responsible when things go wrong. Mark Babington, executive director of regulatory standards at the Financial Rep

The Institute of Chartered Accountants of Scotland (ICAS) has issued a strong response following the UK government’s announcement that the Audit and Corporate Governance Reform Bill has been scrapped. The accounting body's CEO, Gail Boag, described the decision as "deeply frustrating" highligh

The Financial Conduct Authority faces an uncertain future following a government U-turn on plans to overhaul how auditors are policed. Despite an announcement in the King’s Speech in July 2024 that the current Labour government would advance the long-awaited audit reform and corporate governan

The UK’s accounting regulator, the Financial Reporting Council (FRC), has opened an investigation into EY regarding its 2024 audit of energy giant Shell. This marks the third instance this year that the Big Four firm has been targeted regarding potentially unauthorised auditors signing off on

Over the next decade at least 18 million people could be offered extra help with their investments and pensions with the introduction of targeted support by the Financial Conduct Authority (FCA). The new service will allow firms to make specific suggestions to consumers – so they can make bett

The Financial Reporting Council (FRC) has opened a new investigation into EY, intensifying the regulatory pressure on the Big Four accountancy firm. The probe concerns the issuance of "unauthorised" audit reports to unnamed companies. According to the FRC, the investigation targets the firm itself a

The Financial Reporting Council (FRC) has published its annual Audit Market and Competition Update, showing that initiatives to promote a more resilient and competitive audit market have supported firms outside of the Big Four to build their share of Public Interest Entity (PIE) audit engagements. W

BDO has been severely reprimanded and fined £6.5 million by the Financial Reporting Council (FRC) following admissions of misconduct by two former audit partners. The fine was reduced to £5.8m due to admissions. The FRC investigation centred on systemic failures in supervision that allow

The Financial Reporting Council (FRC) has released the 23rd edition of its Key Facts and Trends (KFAT) report, offering a comprehensive overview of the UK accountancy and audit landscape. This year's report highlights continued growth in the accountancy profession, with rising membership i

EY has been accused of misleading the Financial Reporting Council (FRC) over its audit of NMC Health, as the £2 billion negligence trial concerning the collapsed hospital operator nears its conclusion.

The Financial Reporting Council (FRC) has launched a coaching programme for smaller audit firms, aiming to break the stranglehold of the "Big Four" on the audits of Britain's largest companies.

A focus on reporting on the impact of stewardship activities is the best way to demonstrate the effectiveness of investment goals, according to a leading global accountancy body. Responding to the Financial Reporting Council’s (FRC) draft UK Stewardship Code 2026, ACCA (the Association of Char

The Financial Reporting Council (FRC), as secretariat to the UK Sustainability Disclosure Technical Advisory Committee (TAC), is requesting views from stakeholders on the International Sustainability Standards Board (ISSB)’s recently proposed amendments to the Sustainability Accounting Standar

The Financial Reporting Council (FRC) has opened an investigation into accounting giant Deloitte over eight years of its audits for the FTSE 100 mining firm Glencore, following a major bribery conviction against the commodity trader. The FRC confirmed it is examining Deloitte's audits of Glencore an