Fines For UK Auditors Jump 48% Amid Enforcement Push
Law360, London (January 3, 2020, 2:30 PM GMT) -- Fines levied on audit companies rose 48% in 2019, as the government plans to beef up the sector's regulator this year following a string of high-profile corporate collapses.
The Financial Reporting Council issued fines totaling £24.9 million ($32.6 million) last year, compared to £16.8 million in 2018, according to an analysis of figures released Thursday by law firm RPC.
The government plans to replace the FRC this year with a tougher regulator for the auditing sector following the collapse of construction company Carillion, retailer BHS, café chain Patisserie Valerie and tour company Thomas Cook after it collapsed with £1.7 billion in debt....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!