Fraud Intelligence
UK accounting watchdog completes record number of audit flaw cases in 2022/23
British accountancy regulator the Financial Reporting Council (FRC) concluded 19 investigations in the financial year 2022/23, imposing fines worth UKĀ£40.5 million (US$51.5 million) for failings in audits, mainly on the firms conducting them but with GBP1 million (USD1.27 million) in penalties leviedon their senior partners.
By Sara Lewis
British accountancy regulator the Financial Reporting Council (FRC) concluded 19 investigations in the financial year 2022/23,
imposing fines worth UK£40.5 million (US$51.5 million) for failings in audits, mainly on the firms conducting them but with
GBP1 million (USD1.27 million) in penalties leviedon their senior partners.