FRC Closes Probe Into Outsourcing Co.'s Financial Accounts

Law360, London (July 15, 2020, 1:26 PM BST) -- Britain's accounting watchdog said Wednesday that it has ended its probe into Mitie Group PLC's financial statements, concluding a string of investigations into how the outsourcing business prepared its 2016 accounts.

The Financial Reporting Council said that it has closed its investigation into Mitie's financial statements for the year ended March 2016. The audit regulator launched two investigations into Mitie in November 2017.

The FRC had already closed one of the investigations in 2017 after the outsourcing and energy services business addressed a number of concerns that the regulator had about the 2016 accounts. But the audit watchdog had also been...

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