Regulator fines KPMG for N Brown Group audit errors October 7, 2025 Big Four firm KPMG and a former partner have received heavy fines and formal reprimands from the accountancy regulator for serious failures in their audit of N Brown Group plc’s 2022 accounts. The Financial Reporting Council (FRC) found that KPMG and Anthony Sykes failed to meet international auditing standards, with the firm admitting to serious [...]
Audit watchdog launches ‘bold new programme’ to support growth at smaller firms September 12, 2025 The audit regulator has unveiled a new initiative aimed at enhancing the presence of the UK’s small audit firms in the Public Interest Entity market. The Financial Reporting Council (FRC) has initiated a new and more proportionate supervisory approach, designed to enhance audit quality and reflect the unique needs of smaller firms. The body will [...]
Cross-party politicians urges Starmer to prioritise audit watchdog reform September 8, 2025 The Prime Minister has been urged by 66 MPs and Lords in a cross-party alliance to prioritise the long-overdue Audit Reform and Corporate Governance Bill that was promised last year. In the King’s Speech in July 2024, the newly elected Labour government unshelved the Bill that would reform the Financial Reporting Council (FRC) into a [...]
Regulator probes Deloitte over Glencore accounts July 23, 2025 The accountancy regulator announced this morning that it has launched an investigation into Deloitte over audits related to the energy giant Glencore.
KPMG UK and partner fined over £1m after probe into Carr’s audit June 12, 2025 KPMG was hit with sanctions over an audit of a London-listed farm supplies company following the regulator's finding of "serious" breaches
EY audit of NMC ‘was deficient in multiple respects’ says regulator May 19, 2025 The High Court will hear a draft report by the FRC concluding that EY's audit of collapsed NMC "was deficient in multiple respects"
Watchdog launches probe into EY over Post Office audits following Horizon scandal April 16, 2025 The accountancy regulator has launched an investigation into Big Four giant EY's auditing of the Post Office accounts, focusing on the Horizon IT system.
EY slapped with fine over audit of Scottish water company April 14, 2025 Big Four giant EY has been sanctioned £ 500,000 over its audit of a Scottish water company, less than a week after its other sanction
EY slapped with £6.5m fine over Thomas Cook audits April 10, 2025 The watchdog has fined Big Four giant EY £6.5m for its audit of the collapsed airline Thomas Cook.
PwC fined £4.5m over audits of Gupta-linked bank Wyelands March 25, 2025 Big Four firm PwC has been fined over £4.5m for its audits of Sanjeev Gupta's Wyelands Bank.