- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2022-10-06T17:14:00
The U.K. Financial Reporting Council (FRC) on Thursday announced it opened an investigation into accounting firm Mazars regarding its audit of financial statements at Studio Retail Group.
The probe will focus on the Mazars audit for the period ended March 26, 2021, and is only related to the firm at this time, the FRC acknowledged in a press release. The decision to launch an investigation was made at a September meeting of the regulator’s conduct committee.
“Mazars is cooperating fully with the regulator and, respecting client confidentiality and due process, will provide no further comment during the course of the investigation,” the firm said in an emailed statement.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
KPMG was fined £14.4 million (U.S. $17.4 million) and severely reprimanded for providing false and misleading information relating to its audits of construction company Carillion and software business Regenersis.
The U.K. Financial Reporting Council has launched an investigation into Deloitte regarding its audits performed at passenger transport company Go-Ahead Group.
The U.K. Financial Reporting Council has expanded its investigation into PwC over its statutory audits of British defense contractor Babcock International Group to include the fiscal years ended March 31, 2019, and March 31, 2020.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
