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FRC’s Jon Thompson made comments during meeting at City of London law firm earlier this year
£5.6mn penalty is Big Four firm’s fourth in past year
Fifth live investigation launched into firm’s audits of UK companies
Stricter oversight raises standards but competitors argue it also creates barriers to entry
UK audit watchdog chief takes over as government attempts to rein in rail link’s costs
UK watchdog examines Big Four firm’s work on Veolia-owned company
Firm and one of its partners ordered to pay more than £1mn for failures in 2015 and 2016 audits
FRC says it does not believe problem is systemic after revealing instances of misconduct
FRC chair Sir Jan du Plessis warns shake-up may boost ‘comfort of private equity’ for companies
Shareholder engagement can be improved — but directors cannot regard investors as an inconvenience
Regulator says accounting checks lacked ‘professional scepticism’
Comments by FRC’s Sir Jon Thompson come after complaints that clampdown by watchdog was putting off new recruits
Fines across the industry rose to £46.5mn last year, according to watchdog
Quality of assessments by mid-tier firms lags Big Four, Financial Reporting Council finds
Auditor and former partner receive severe reprimands over their handling of financial inspections
UK watchdog’s intervention follows fines for Big Four firms in US, Australia and Canada
UHY Hacker Young agrees not to carry out new audits of public companies for at least two years
FRC lays out plans to make boards more accountable for fraud and company finances
The UK government should stop half measures and recreate an Audit Commission that can deliver reliable data on local authorities
Sir Jan du Plessis says government ‘missed opportunity’ by dropping proposed oversight rules
UK regulator hands out penalties for failings on accounts of Kier and Galliford Try
Decision to omit Sarbanes-Oxley type rules draws criticism from head of audit regulator
Industry bodies which have received £50mn in recent penalties say they are open to reform
Lawyer argues penalties sought by FRC over Carillion audit are designed to ‘destroy’ accountant’s life
Tribunal finds five defendants guilty of misconduct after hearing auditors created ‘false documents’
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