FRC in the U.K. Sanctions Issued in Relation to Audits


The Financial Reporting Council (FRC) has imposed sanctions against KPMG Audit Plc (KPMG) and its audit partner Andrew Walker, following their admission of Misconduct in relation to the audit of the financial statements of The Co-operative Bank plc (Co-op Bank) for the year ended 31 December 2009. For more click here.

The Financial Reporting Council (FRC) also issued a Final Decision Notice under the Audit Enforcement Procedure and imposed sanctions against MSR Partners LLP (formerly Moore Stephens LLP) and Stephen Corrall, Audit Engagement Partner, in relation to the statutory audit of the financial statements of Laura Ashley plc for the financial year ended 30 June 2016. For more click here.