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.... The collapse of BHS is still being investigated by the Insolvency Service which could recommend that former directors of BHS are banned from being company directors in Britain. The Financial Reporting Council is also looking into the collapse, while the Serious Fraud Office is also considering whether to launch a formal investigation. ... [Read full article on Guardian ]
Wednesday 1st of March 2017 06:44:02 PM
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.... The collapse of the retailer is still being investigated by the Insolvency Service, which could recommend that former directors of BHS are banned from being company directors in Britain. The Financial Reporting Council is also looking into the collapse, while the Serious Fraud Office is also considering whether to launch a formal investigation. ... [Read full article on Guardian ]
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. The Financial Reporting Council (FRC), which regulates how firms govern themselves, is too "timid" and needs more powers, says former City minister Lord Myners. ... [Read full article on BBC ]
Thursday 2nd of March 2017 11:03:29 AM
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Latest Finance News related to Financial Reporting Council

Topshop owner to double contributions to plug pension deficit image
Source : Guardian [Read Article] Sunday 5th of March 2017 03:28:55 PM
.... The collapse of the retailer is still being investigated by the Insolvency Service, which could recommend that former directors of BHS are banned from being company directors in Britain. The Financial Reporting Council is also looking into the collapse, while the Serious Fraud Office is also considering whether to launch a formal investigation. ...
'Timid' financial regulator needs more powers, Lord Myners says image
Source : BBC [Read Article] Thursday 2nd of March 2017 11:03:29 AM
. The Financial Reporting Council (FRC), which regulates how firms govern themselves, is too "timid" and needs more powers, says former City minister Lord Myners. ...
Dominic Chappell to fight legal action forcing him to pay BHS pensions image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:44:02 PM
.... The collapse of BHS is still being investigated by the Insolvency Service which could recommend that former directors of BHS are banned from being company directors in Britain. The Financial Reporting Council is also looking into the collapse, while the Serious Fraud Office is also considering whether to launch a formal investigation. ...
UK bosses face tougher punishments over corporate governance rules image
Source : Guardian [Read Article] Thursday 16th of February 2017 09:18:39 AM
.... Instead it suggests a code for private firms which are less prescriptive than the one for listed corporations. The Financial Reporting Council, which polices the corporate governance codes for listed companies, is asking for new powers to rein in boardroom bosses. ...
How attempts to save BHS, and 11,000 jobs, were doomed by chaos and mistrust image
Source : Guardian [Read Article] Saturday 31st of December 2016 04:00:32 PM
.... Although the parliamentary committee led by Labour MPs Iain Wright and Frank Field has delivered its verdict, there are other investigations still underway. The Pensions Regulator, the Insolvency Service, the Financial Reporting Council, HM Revenue & Customs and the Serious Fraud Office are all still looking into the circumstances surrounding the collapse of the 88-year-old chain. ...
US bank quit Sports Direct role over share deal concerns, court filing claims image
....Shares in Sports Direct peaked at 922p in April 2014, but closed at just over 300p on Monday. The retailer is scheduled to publish its half-year results on Thursday, when Ashley will update the market on the company’s performance but also face questions about a controversial arrangement between Sports Direct and a delivery company owned by his brother that is being scrutinised by the Financial Reporting Council. ...
Theresa May should ignore objections to publishing pay ratios | Nils Pratley image
....In a ranking of Sports Direct’s governance misdemeanours, possible failure to tell shareholders about a deal with founder Mike Ashley’s brother would not be top of the list. But, note, it is not Sports Direct that is being investigated by the Financial Reporting Council. ...
Sports Direct accounts investigated over family links image
Source : BBC [Read Article] Monday 28th of November 2016 12:36:13 PM
....Sports Direct is being investigated by the UK's accounting watchdog over its links to a firm for which founder Mike Ashley's brother is a director. The Financial Reporting Council announced it had launched a probe after reports emerged about the retailer's links to Barlin Delivery Limited. ...
Sports Direct auditor under investigation over company's family deal image
Source : Guardian [Read Article] Monday 28th of November 2016 10:58:42 AM
....The financial reporting watchdog will investigate the accountancy firm Grant Thornton for signing off on an arrangement between Sports Direct, majority-owned by Mike Ashley, and a delivery company owned by his brother. The Financial Reporting Council said it was looking into the auditor over its failure to report a deal that Sports Direct struck with Barlin Delivery, owned by John Ashley. ...
MPs expected to back regulations on privately-owned City businesses image
Source : Guardian [Read Article] Friday 25th of November 2016 08:01:10 PM
....Ministers are preparing to back the idea of extending the governance code for stock market-listed companies to large privately-owned businesses, in response to public anger at a string of scandals including the collapse of BHS. The proposal to extend the City’s governance code to the private sphere was first put forward by the Financial Reporting Council, an independent body that regulates City behaviour, including adherence to corporate behaviour codes for public companies. ...
BHS scandal: Dominic Chappell arrested amid tax investigation image
Source : Guardian [Read Article] Sunday 13th of November 2016 11:08:49 AM
....Chappell has previously said he “earned” the money paid out from BHS, his “conscience is very clear” and his team “did the right thing, right the way through”. The Pensions Regulator has started legal proceedings in an attempt to fill the BHS pension deficit, while the Financial Reporting Council and the Insolvency Service are also investigating the scandal. ...
Three charged over Tesco accounts fraud image
Source : BBC [Read Article] Friday 9th of September 2016 11:37:30 AM
....In November last year, Tesco paid $12m (£9m) to settle a lawsuit alleging that accounting irregularities had inflated the share price of the company. The company was also being investigated by the UK's Financial Reporting Council (FRC), which polices accountants. ...
Former Tesco directors charged with fraud over accounting scandal image
Source : Guardian [Read Article] Friday 9th of September 2016 11:35:32 AM
.... The company said it was aware of the SFO’s announcement but could not comment on “an ongoing investigation unrelated to TalkTalk”. It emerged last week that the Financial Reporting Council, the accountancy watchdog, had dropped an investigation into Laurie McIlwee, the former Tesco chief financial officer. ...
Adopt Swedish-style shareholder committee on pay, says MP image
Source : BBC [Read Article] Thursday 1st of September 2016 08:30:09 AM
....As shareholders are being taken to task by government, they have a target of their own in their sights. A group of investors, led by the Local Authority Pension Fund Forum (LAPFF), is at odds with the Financial Reporting Council (FRC), a regulator for corporate governance and accounting standards. ...
Sports Direct investors press for review of its practices image
Source : BBC [Read Article] Thursday 25th of August 2016 08:22:26 AM
....MPs also heard workers' stories alleging they were so worried about their jobs that they feared to call in sick, resulting in a number of ambulances being called to the warehouse in Shirebrook in Derbyshire. This week, the revelation of the distribution arrangement with Mr Ashley's brother has drawn the attention of City regulator the Financial Reporting Council, which is said to be looking into the agreement and why it was not disclosed in Sports Direct's annual report. ...
George Osborne's reassuring words fail to comfort the markets | Nils Pratley image
....What fun, another BHS inquiry. This time it’s the auditors, PricewaterhouseCoopers, which will be investigated, by the Financial Reporting Council (FRC), in relation to the department store retailer’s accounts in the last full year of Sir Philip Green’s ownership. ...
Accountancy regulator to probe PwC audit of BHS image
Source : BBC [Read Article] Monday 27th of June 2016 10:47:30 AM
....The accountancy regulator has opened an investigation into professional services firm PwC's audit of collapsed retailer BHS. The Financial Reporting Council (FRC) said its probe was into the year ending 30 August 2014, when the firm was still owned by Sir Philip Green. ...
Regulator to investigate accountants  over BHS and HBOS failures image
Source : Guardian [Read Article] Monday 27th of June 2016 09:56:16 AM
....The regulator that monitors UK financial reporting is to investigate two of the big four accountancy firms over their role in the failures of the retailer BHS and the banking group HBOS. The Financial Reporting Council, responsible for overseeing UK accounting standards, began an investigation into PricewaterhouseCoopers over its audit of the collapsed high street chain BHS when it was owned by Sir Philip Green. ...
Institute of Directors chief fury at BHS ‘blight' image
Source : Daily Express [Read Article] Saturday 4th of June 2016 07:12:00 AM
....”. Walker attacked the Pensions Regulator and the Financial Reporting Council saying they could not put the matter in the “too hard” box. ...
RBS: no evidence of criminal behaviour, rule prosecutors image
Source : Guardian [Read Article] Thursday 12th of May 2016 12:56:29 PM
.... Goodwin had no right of appeal, and in accordance with custom was given no right to make representations to the forfeiture committee, a group of four permanent secretaries. The Crown Office said its investigation had required co-operation from the Financial Conduct Authority - which replaced the FSA - the Prudential Regulation Authority, part of the Bank of England, as well as the Serious Fraud Office, the Financial Reporting Council and the Federal Reserve Bank of New York. ...
Schroders criticised after chief switches to chairman role image
Source : Guardian [Read Article] Thursday 3rd of March 2016 12:41:33 PM
....”. The corporate governance code, overseen by the Financial Reporting Council, states: “A chief executive should not go on to be chairman of the same company. ...
Standard Life is walking a Brexit tightrope image
Source : Telegraph [Read Article] Friday 19th of February 2016 07:00:43 PM
.... Keith Skeoch, Standard Life chief executive. The Financial Reporting Council has already reminded the country’s biggest companies that they must set out their thoughts on the referendum in the “risks” section of their annual report if they believe leaving the EU is a risk to their business. ...
The EU is finished if it doesn't allow Italy to fix its banks image
Source : Telegraph [Read Article] Saturday 13th of February 2016 07:52:01 PM
.... Fortunately, this doesn’t seem to be a problem for Rolls Royce. The Financial Reporting Council crawled all over the company’s books a couple of years ago, and largely gave them a clean bill of health. ...
‘Shocking delay’ into HBOS probe needs thorough response, MPs warn image
Source : Telegraph [Read Article] Wednesday 3rd of February 2016 01:47:08 PM
.... . The Financial Reporting Council (FRC) initially ruled out a probe of the audit in 2013, but has been pushed to reconsider after the Bank of England and Financial Conduct Authority published a damning report into HBOS’ financial health in the months and years before its collapse. ...
Treasury committee chairman steps up pressure over KPMG audit of HBOS image
Source : Guardian [Read Article] Wednesday 3rd of February 2016 11:45:02 AM
....The chairman of the Treasury committee has stepped up the pressure on the accounting watchdog over its examination of KPMG’s auditing of the failed bank HBOS. Andrew Tyrie has written to Stephen Haddrill, the chief executive of the Financial Reporting Council, asking how the regulator decided on the terms of reference for its inquiries into KPMG’s conduct and whether there will be independent oversight of the FRC’s work. ...
Quindell owner in debt restructuring talks image
Source : Telegraph [Read Article] Saturday 30th of January 2016 08:08:52 PM
.... . Shortly afterwards, the Financial Reporting Council began scrutinising Quindell’s auditors, while the Serious Fraud Office launched a criminal investigation after Quindell published its long-delayed 2014 accounts, showing a £238m loss from a profit of £8. ...
City watchdogs open probe into HBOS directors  image
Source : Telegraph [Read Article] Thursday 28th of January 2016 10:50:36 AM
.... . The long-awaited report into HBOS’s debt-fuelled failings has also recently prompted the accounting watchdog, the Financial Reporting Council, to look again at the work done by KPMG in checking the health of the lender ahead of an ill-fated rights issue in 2008. ...
FCA orders new inquiry into HBOS chiefs image
Source : Guardian [Read Article] Thursday 28th of January 2016 10:21:45 AM
....Regulators have also faced intense political pressure to look again at HBOS. The Financial Reporting Council said last week that it would re-examine KPMG’s auditing of the bank after criticism from the Treasury select committee, which also called on the FCA to hold individuals to account. ...
Pay bank chiefs more money to fill posts, says top investor image
Source : Telegraph [Read Article] Saturday 23rd of January 2016 07:00:28 PM
.... . The boards of both banks have been bolstered over the past year with possible contenders: Axa’s Henri de Castries joined HSBC as a non-executive; while Standard Chartered added Gay Huey-Evans, deputy chairman of the Financial Reporting Council, to its board last April. ...
JP Morgan's threat to leave if UK quits EU may bolster support for Brexit image
Source : Guardian [Read Article] Thursday 21st of January 2016 07:52:25 PM
.... You bet. Seven years after the collapse of HBOS, the Financial Reporting Council will take a look at KPMG’s audit of the failed bank’s accounts for 2007, specifically the use of “going concern” provisions. ...
HBOS collapse: Watchdog to scrutinise auditing again image
Source : Telegraph [Read Article] Thursday 21st of January 2016 12:37:09 PM
.... . The Financial Reporting Council came under pressure to re-examine KPMG’s audit work on HBOS in November after the City regulators released a long-delayed report into the reasons for the bank’s failure. ...
Accounting watchdog weighs up inquiry into KPMG's audit of HBOS image
Source : Guardian [Read Article] Thursday 21st of January 2016 11:22:22 AM
. The Financial Reporting Council is considering an investigation into KPMG’s auditing of HBOS, the bank that almost collapsed at the peak of the financial crisis. ...
Banking Standards Board yet to outline any banking standards image
Source : Guardian [Read Article] Monday 18th of January 2016 05:17:26 PM
....”. The accountancy body, the Financial Reporting Council, has also embarked on a review of culture, that goes beyond the banking sector. ...
Company reputation worth £1.7 trillion to the UK but quarter of firms ignore it image
.... . "Its chairman has resigned, the company has been the subject of investigations from the Financial Reporting Council, the Financial Conduct Authority and the Serious Fraud Office, and shareholders have sued the company for investment losses," the report noted. ...
Making sure accountancy reforms add up image
Source : Telegraph [Read Article] Sunday 3rd of January 2016 10:57:01 PM
City News: Toshiba, Sports Direct, Globo and Netplay TV image
Source : Daily Express [Read Article] Tuesday 22nd of December 2015 12:01:00 AM
....--------------------------------------------------------------------------------------------------------. THE Financial Reporting Council has launched an investigation into accountants Grant Thornton’s auditing of Globo. ...
Finance watchdog bars former iSoft directors from accountancy work image
Source : Guardian [Read Article] Monday 21st of December 2015 05:31:53 PM
....Two former directors of iSoft, the NHS software supplier, have been barred from practising as accountants almost a decade after the one-time FTSE 250 firm was engulfed in an accounting scandal. The action by the Financial Reporting Council (FRC), the professional regulator, comes nine years after iSoft shareholders were told of “accounting irregularities”. ...
iSoft directors banned by accountancy watchdog image
Source : Telegraph [Read Article] Monday 21st of December 2015 03:26:37 PM
. The Financial Reporting Council has censured two former directors of software company iSoft, which is alleged to have booked millions in revenues for a contract years before a deal was formally agreed. ...
Grant Thornton faces probe over Globo auditing image
Source : Telegraph [Read Article] Monday 21st of December 2015 01:00:24 PM
.... . The Financial Reporting Council (FRC), the accountancy regulator, has launched a probe into Grant Thornton’s auditing of Globo’s accounts for 2013 and 2014. ...
Accountancy watchdog investigates Grant Thornton over Globo audits image
Source : Guardian [Read Article] Monday 21st of December 2015 12:40:50 PM
. The Financial Reporting Council is investigating Grant Thornton over the accountancy firm’s auditing of Globo, the mobile technology company that went into administration after discovering financial irregularities. ...
Responsibility comes with the job of investing other people’s money image
Source : Telegraph [Read Article] Saturday 19th of December 2015 05:00:50 PM
.... The Financial Conduct Authority (FCA) has just announced a wide- ranging review of fund managers, consultants and financial advisors; their roles and the value they provide to customers. The UK’s Financial Reporting Council will next year start to name and shame fund managers that do not act as involved owners of the companies in which they invest. ...
FRC tells MPs it is still considering examining auditing of HBOS image
Source : Guardian [Read Article] Wednesday 16th of December 2015 01:07:15 PM
....The review has been triggered by the publication last month of an official report into what went wrong at HBOS. In that report it emerged that the Financial Reporting Council, which polices accountants and auditors, had decided there were “not reasonable grounds to suspect that there may have been misconduct” in relation to the auditing of the HBOS corporate loan book. ...
MPs pile pressure on accountancy watchdog to investigate HBOS auditors image
Source : Guardian [Read Article] Tuesday 15th of December 2015 05:57:00 PM
....Pressure is mounting on the accountancy watchdog to launch an investigation into the role of KPMG and former bank executives in the collapse of HBOS. During an evidence session before the Treasury select committee on Tuesday, questions were repeatedly raised about why the Financial Reporting Council had stepped back from reviewing the role of KPMG in auditing HBOS. ...
UK lenders can survive an HBOS-type crash, says Bank of England image
Source : Telegraph [Read Article] Tuesday 15th of December 2015 02:27:12 PM
.... The Treasury Select Committee, headed by Andrew Tyrie MP, wants to ask the audit industry regulators why they did not investigate KPMG over the HBOS crash  Photo: Micha Theiner/City AM/Rex. Select committee chairman Andrew Tyrie asked if the Financial Reporting Council (FRC) is “a weak link in the regulatory structure… a loose rivet below the waterline in an otherwise seaworthy ship?” . ...
Accounting watchdog accused of flunking HBOS probe image
Source : Telegraph [Read Article] Monday 14th of December 2015 07:46:38 PM
.... . The Financial Reporting Council (FRC) decided two years ago not to investigate audits that had been carried out by KPMG in the months before the spectacular failure of HBOS in 2008 had made it the symbol of the financial crisis in the UK. ...
Decision over HBOS investigation was made without full evidence, MPs told image
Source : Guardian [Read Article] Monday 14th of December 2015 07:29:13 PM
....Last month, Green concluded it was in the public interest for regulators to widen their investigation beyond Cummings. Iain Cornish and Stuart Bernau, the two financial experts who acted as independent scrutinisers of the HBOS report, also expressed surprise that the accountancy body, the Financial Reporting Council (FRC), had not investigated KMPG. ...
Time for Shell boss to master art of renegotiation image
Source : Guardian [Read Article] Monday 14th of December 2015 07:25:12 PM
....As the sorry tale of the failure of HBOS in 2008 is examined afresh, one actor in the drama has avoided the spotlight – KPMG, the bank’s auditors. The Financial Reporting Council (FRC), the accountancy watchdog, looked into HBOS’s provisioning for bad loans in its corporate lending division and decided KPMG had no case to answer. ...
Investigate KPMG's audit of HBOS, urges Tyrie image
Source : Telegraph [Read Article] Monday 14th of December 2015 12:01:42 AM
.... . The Bank of England asked the Financial Reporting Council to investigate the audits which took place shortly before the bank collapsed in 2008, but the FRC declined the offer. ...
MPs ask accountancy watchdog to look again at HBOS auditors image
Source : Guardian [Read Article] Monday 14th of December 2015 12:01:41 AM
....The accountancy regulator is facing renewed pressure to open an investigation into the auditors of HBOS in the runup to its near-collapse in 2008. After the official report into what went wrong at HBOS was published last month, the Financial Reporting Council said there was no grounds for an investigation into the bank’s auditors, KPMG. ...
Cenkos denies Serious Fraud Office Quindell probe link image
Source : Telegraph [Read Article] Tuesday 8th of December 2015 08:57:40 AM
.... . Quindell is being investigated by the SFO, the Financial Reporting Council and the Financial Conduct Authority, after it shocked investors by reporting a £375. ...
HBOS reports don't go far enough, says Lloyds shareholder group image
Source : Telegraph [Read Article] Friday 20th of November 2015 06:17:27 PM
.... The KPMG auditors who signed off HBOS’s accounts are also facing renewed scrutiny. Andrew Tyrie, chairman of the Treasury Select Committee, has said he will write to the Financial Reporting Council to find out why the bank’s audits have not already been investigated. ...
Quindell plans £415m return to investors image
Source : Telegraph [Read Article] Monday 2nd of November 2015 08:21:59 PM
.... The SFO started a criminal investigation into Quindell’s past accounts and business practices after the firm’s new bosses made drastic changes to its results that resulted in the £107m of pre-tax profits it previously reported for 2013 revised to a £64m loss. In addition, the Financial Reporting Council is examining the work of Quindell's auditors. ...
Bosses told to plan for their own resignations image
Source : Telegraph [Read Article] Tuesday 27th of October 2015 07:38:03 PM
.... . The Financial Reporting Council (FRC) has called on Britain’s boardrooms to consider succession planning as a core part of their job, rather than the “poor cousin” of overseeing audit and remuneration. ...
Watchdog lodges complaint about former Connaught finance staff  image
Source : Telegraph [Read Article] Monday 12th of October 2015 01:26:04 PM
.... . The Financial Reporting Council has now alleged that Connaught’s finance director Stephen Hill, his deputy David Wells, the firm’s auditor Stephen Harrison and his employer PwC “fell significantly short of the standards” expected of accountants in the run-up to the firm’s failure. ...
Sainsbury's questioned by accounting watchdog over income disclosures image
Source : Telegraph [Read Article] Saturday 3rd of October 2015 06:00:21 PM
.... . The Sunday Telegraph has learnt that Sainsbury’s received an exploratory letter from the Financial Reporting Council (FRC) after it failed to disclose its income from its suppliers in its annual report. ...
Sir Adrian Cadbury obituary image
Source : Guardian [Read Article] Sunday 6th of September 2015 02:54:35 PM
.... From 1984 to 1995 he chaired ProNed, which promoted the appointment of non-executive directors . So it was no surprise that when a series of corporate scandals questioned standards of financial reporting and accountability and brought pressure for legislation on directors’ pay, the Stock Exchange and the Financial Reporting Council turned to Cadbury to chair the committee on the financial aspects of corporate governance. ...
Boardroom pioneer Sir Adrian Cadbury dies image
Source : Telegraph [Read Article] Friday 4th of September 2015 10:55:21 PM
.... . Following his retirement from the family business in 1990 at the age of 60, and at the behest of the Financial Reporting Council, Sir Adrian led an inquiry into how companies are run. ...
Quindell chairman reveals meeting with founder Rob Terry image
Source : Telegraph [Read Article] Wednesday 2nd of September 2015 07:39:18 PM
.... . The Serious Fraud Office launched a criminal investigation into the firm’s past business practices and accounts within hours of the restatements, and the Financial Reporting Council is scrutinising the work of KPMG and its predecessor, RSM Tenon. ...
Philip Clarke to be interviewed by fraud office over Tesco accounting scandal image
.... Some Tesco suppliers and other directors including Carl Rogberg, the former UK finance director, Laurie McIlwee, the former group finance director, are also believed to have had contact with the SFO earlier this year. The issue is also being investigated by the grocery market watchdog – the Groceries Code Adjudicator – and the accountancy watchdog, the Financial Reporting Council. ...
Deloitte partners share £593m profit pool as consultancy revenues surge image
.... Back then, Deloitte’s 651 partners pocketed £970,000 each. The mainstay of the firm’s consultancy work was provided by Tesco, after Britain’s biggest retailer uncovered an accounting scandal that led to the departure of several senior executives and sparked investigations by the Serious Fraud Office, the Financial Reporting Council and a grocery industry watchdog. ...
FCA drops Quindell probe to make way for fraud investigation image
Source : Telegraph [Read Article] Tuesday 18th of August 2015 08:39:14 AM
.... It is not unusual for the FCA to stop an investigation if it overlaps significantly with an SFO probe and there had been speculation that the City regulator might drop its probe into Quindell. It emerged earlier this month that the Financial Reporting Council had also launched its own review of the firm last year and is now examining the work of Quindell’s current and previous accountants, KPMG and RSM Tenon. ...
Truell's Tantalum open to Quindell takeover despite fraud investigation  image
Source : Telegraph [Read Article] Saturday 15th of August 2015 06:36:46 PM
.... Within hours of the restatements, the SFO said it had started an investigation. The Financial Reporting Council is also examining the work of Quindell’s auditors and the Financial Conduct Authority is scrutinising the firm. ...
Source : Independent [Read Article] Wednesday 12th of August 2015 12:25:16 AM
.... The consortium of hedge fund owners, however, have pledged to maintain the bank’s traditional ethical lending practices. The Financial Reporting Council, the accountancy regulator, is still looking into the Co-op Bank’s accounts back to 2008, which were audited by KPMG. ...
Former Quindell bosses face questions over deals image
Source : Telegraph [Read Article] Saturday 8th of August 2015 06:55:53 PM
.... . The SFO launched a probe into Quindell within hours of the restatements, and the Financial Reporting Council is also investigating its auditors. ...
SFO chief admits agency's future is in doubt image
Source : Guardian [Read Article] Thursday 6th of August 2015 06:14:56 PM
.... The agency said it has opened a “criminal investigation into business and accounting practices”. At the same time, the Financial Reporting Council is investigating individual accountants and two firms in connection with the auditing of Quindell’s accounts. ...
Quindell shares plunge 28% as troubled firm returns to market image
Source : Guardian [Read Article] Thursday 6th of August 2015 04:44:26 PM
.... The scandal enveloping the company intensified on Wednesday when the Serious Fraud Office announced a criminal investigation into its accounts. The Financial Conduct Authority is also investigating Quindell, and the accounting regulator, the Financial Reporting Council, is looking into the conduct of two of Quindell’s past auditors, KPMG and RSM Tenon, now part of Baker Tilly. ...
Quindell shares plunge by as much as 40pc image
Source : Telegraph [Read Article] Thursday 6th of August 2015 08:38:05 AM
.... . Aside from the SFO and FCA probes and a separate Financial Reporting Council investigation of the work of Quindell’s auditors, investors have taken fright at drastic results restatements the company’s new management have made. ...
Quindell faces fraud inquiry as reported profits evaporate image
Source : Independent [Read Article] Thursday 6th of August 2015 01:14:48 AM
....The group said it now had close to £600m in cash and has plans to return up to £500m of this to shareholders later this year. The Financial Reporting Council also revealed that it is investigating two accountancy firms related to Quindell, thought to be its former auditor RSM Tenon, now part of the Baker Tilly group, and KPMG, which took over Quindell’s  accounts in October 2013. ...
Serious Fraud Office opens inquiry into Quindell after it publishes late accounts image
....The SFO would not elaborate on its statement on Wednesday that it had opened a “criminal investigation into business and accounting practices”. Its announcement came shortly after the accountancy regulator, the Financial Reporting Council (FRC), revealed it was investigating individual accountants and two firms in connection with the auditing of Quindell’s accounts from December 2011 to June 2014. ...
SFO opens Quindell investigation image
Source : BBC [Read Article] Wednesday 5th of August 2015 03:20:03 PM
Serious Fraud Office launches investigation into Quindell  image
Source : Telegraph [Read Article] Wednesday 5th of August 2015 01:43:36 PM
.... . In a blow to the already beleaguered insurance outsourcer and firms associated with it, the Financial Reporting Council (FRC) has also started a probe into the work of Quindell’s current and previous auditors. ...
Source : Independent [Read Article] Wednesday 29th of July 2015 12:36:06 AM
.... . Any buyer will, however, have to contend with a number of problems at RSA, including its pension deficit, an ongoing inquiry by the Financial Reporting Council and a legal battle with the former head of its Irish business, Philip Smith. ...
10-year ban for Healthcare Locums' ex-finance director image
Source : Telegraph [Read Article] Tuesday 21st of July 2015 11:06:25 PM
.... . Diane Jarvis, who was chief financial officer of the business, on Tuesday agreed a settlement with regulator the Financial Reporting Council (FRC) over her role in the Healthcare Locums’ (HCL) accounting problems. ...
Lord Green admits HSBC should have conducted tougher checks on Swiss arm image
....”. Green, who still insisted he was “proud of HSBC” despite “not getting everything right”, gave his evidence alongside Sir Win Bischoff, the veteran banker who is a former chairman of Lloyds Banking Group and currently chairman of the Financial Reporting Council. ...

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