Financial Reporting
| Use attributes for filter ! | |
| Google books | books.google.com |
|---|---|
| Originally published | 1986 |
| Authors | David Alexander |
| Anne Britton | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2114258 |
About Financial Reporting
"The seventh edition of this text, Financial Reporting, combines financial accounting theory with a detailed examination of the legal and regulatory framework of accounting. . . .
Carillion: Record fine for KPMG over 'exceptional' failure
... The Financial Reporting Council, which regulates accountants, said the £21m fine was due to the " number, range, and seriousness" of issues in KPMG s work...
Credit Suisse bank: UBS said to be in takeover talks with troubled rival
... Shares in Credit Suisse have fallen sharply in recent days after it said it had found " material weakness" in its Financial Reporting...
Credit Suisse shares hit as investor fears reignite
... Earlier this week, it rattled investors when it admitted that it had found " material weakness" in its Financial Reporting, while its biggest shareholder - the Saudi National Bank - said it could not inject further funds into the Swiss lender...
Asia markets fall as global banking fears widen
... Shares in the bank plunged after it found " weakness" in its Financial Reporting...
Stock markets hit again by banking worries
... " Credit Suisse s shares slumped after it revealed on Tuesday that its auditor, PwC, had identified " material weaknesses" in its Financial Reporting controls...
Thomas Cook refund website looks with 60,000 claims on day one
... The Financial Reporting Council, the accounting watchdog, is also investigating the auditing of the company...
Thomas Cook: Final return flights touch down
... The Financial Reporting Council, the accounting watchdog, is also investigating the auditing of the company...
Patisserie Valerie's managers rescue chain
... Also under investigation, by the Financial Reporting Council, are former Patisserie Valerie auditors Grant Thornton...
Carillion: Record fine for KPMG over 'exceptional' failure
Auditing giant KPMG has been handed a record fine over " exceptional" failures in its accounting work for Carillion, the construction giant which collapsed in 2018.
The Financial Reporting Council, which regulates accountants, said the £21m fine was due to the " number, range, and seriousness" of issues in KPMG's work.
The failure of Carillion hit thousands of jobs and 450 building projects.
KPMG's UK chief executive said the FRC's findings were " damning".
Jon Holt said: " I Am very sorry that these failings happened in our firm. It is clear to me that our audit work on Carillion was very bad, over an extended period.
" In many areas, some of our former partners and employees simply didn't do their job properly. "
Carillion collapsed with debts in excess of £1. 5bn, leaving projects including Liverpool's Royal Hospital and the £745m Aberdeen bypass project unfinished as well as contracts in prisons, hospitals and with the army unfulfilled.
KPMG had vetted The Firm 's accounts repeatedly between 2014 and 2017 and failed to spot its spiralling problems.
The FRC said it had looked back through these audits and found " an unusually large number of breaches of relevant requirements".
It said KPMG had failed to gather enough appropriate evidence to enable it to conclude " the financial statements were true and fair".
It also failed to conduct its audit work " with an adequate degree of professional scepticism".
Related TopicsSource of news: bbc.com