Directors of collapsed Carillion banned by accounting watchdog Accountancy A pair of Carillion finance directors in post shortly before its collapse have been fined and banned by the accounting industry watchdog, bringing the curtain down on eight years of regulatory probes into one of the most notorious corporate failures in British history. Richard Adam – who served as the now-extinct contracting company’s finance director [...]
‘Stewardship shouldn’t feel like box-ticking’ – FRC chief Business FRC chief executive exclusively shared with City AM his main focus of overhauling its key City code was "reducing the reporting burden"
FRC: We will take an axe to City stewardship code, says boss Business The Financial Reporting Council (FRC) plans to take the axe to a key City code that governs how shareholders should hold companies to account. The UK Stewardship Code was created following the 2008 financial crisis to address fears that shareholders had failed to adequately police risk-taking. Signatories are required to publicly report on their stewardship [...]
Big Four vs Watchdog: Giants rack up over £154m in fines April 16, 2025 The accountancy regulator has handed over £154m in fines to the Big Four firms over the last five years for audit failures
The rise of the regulators December 10, 2024 Regulators have expanded massively over the last 50 years, in terms of headcount, expenditure and scope. This has created a risk aversion ratchet which is hampering growth and damaging democracy – there is another way, says James Vitali Over the past fifty years, a silent revolution has taken place in the British constitution. While central [...]
Ex-BDO senior manager handed 20-year ban for falsifying documents November 14, 2024 The audit watchdog has banned a former senior manager of accountancy giant BDO for 20 years after she was found to have been creating false documents
How the accounting watchdog is looking to unleash the City November 11, 2024 As Richard Moriarty gripped the sides of a podium and spoke freely from a sheet of bullet points at the London Stock Exchange in September, a warmth was stirring among certain City executives in the room. The tie-less career regulator, boss of the audit watchdog, the Financial Reporting Council, laid out his plans to shake [...]
Audit watchdog plans to ditch ‘environment’ focus in growth push November 11, 2024 The audit watchdog is planning to remove references to the “environment” and “society” from a code setting standards for City investors in a bid to simplify reporting processes and get behind the government’s push for growth, City AM can reveal. In a consultation document today, the Financial Reporting Council (FRC) will reveal plans to make a number [...]
Mike Ashley’s Frasers Group hires former HS2 and HMRC boss June 3, 2024 Mike Ashley's retail empire Frasers Group has joined the former chair of HS2 and CEO of HMRC to its board.
Accounting watchdog: We must regulate so there is ‘a net benefit for UK PLC’ May 7, 2024 The head of the country’s accounting watchdog has said the agency must regulate in a manner that has “a net benefit for UK PLC”.