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Baker Tilly Hit With $1M Fine Over Auditing Errors

Law360, London (April 15, 2019, 1:08 PM BST) -- The Financial Reporting Council hit Baker Tilly U.K. Holdings PLC and two of its partners with fines totaling £815,000 ($1.07 million) on Monday for “errors and discrepancies” not found during an audit of electrical vehicles business Tanfield Group.

The accounting watchdog penalized Baker Tilly —  now known as RSM UK Audit LLP  — and its partners Richard King and Steven Railton following a probe into the financial statements of Tanfield, which is listed on the London Stock Exchange, and two of its subsidiaries for the year ended Dec. 31, 2007.

The FRC said that misconduct in the audit work related to...

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