UK Accounting Watchdog Ramps Up Fines

PYMNTS

’s accounting watchdog, the Financial Reporting Council (FRC), has now levied more fines in two days than it has in the entirety of 2017, according to Bloomberg reports on Tuesday (June 19). The newly aggressive tactics suggest the FRC took note of criticism by policymakers that the regulator was ineffective and “toothless” to address substandard auditing by the nation’s Big Four auditors: KPMG, PwC, Ernst & Young and Deloitte. The U.K.’s

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