- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2020-06-08T17:57:00
The U.K. Financial Reporting Council has ended its third and final investigation into the Tesco accounting scandal, yet again failing to find anyone responsible for the overstating of £250 million (U.S. $317.5 million) in profits.
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The United Kingdom might make it easier for executives and senior managers to be held directly accountable for corporate crimes under reform proposals put forward by the body that reviews U.K. law.
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
The U.K. Serious Fraud Office announced British supermarket chain Tesco Stores has fulfilled the terms of its 2017 deferred prosecution agreement resulting from an accounting fraud scandal.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
