The Latest Breaking News from FRC

EY and partner fined £1.2m over Made.com accounting failures

Watchdog officials said the auditors relied too heavily on the retail group’s own forecasts and did not sufficiently challenge them.

Evening Standard · Jul 28

Former Virgin Money boss picked as next chair of UK’s auditing watchdog

Dame Jayne-Anne Gadhia has been announced as the Government’s pick to chair the Financial Reporting Council.

Evening Standard · Jul 13

Audit firm to Gupta metals empire fined and banned for ‘egregious’ failures

UK watchdog gives King & King severe reprimand for failing ‘to identify clear self-interest’ when conducting audits

The Guardian - UK · Jun 23

The UK government’s retreat from Carillion audit reforms is feeble

Eight years after systemic flaws were exposed, ministers have abandoned their long-promised overhaul in favour of another ‘pro-growth’ nod

The Guardian - UK · Jan 20

UK accounting body to halt remote exams amid AI cheating

Candidates will have to sit assessments in person unless there are exceptional circumstances, says ACCA

The Guardian - UK · Dec 29, 2025

Lammy labels Gaza famine ‘utterly horrifying’

The Integrated Food Security Phase Classification said on Friday that famine is occurring in Gaza City and could spread further south.

Evening Standard · Aug 22, 2025

Experts warned that Gaza was at risk of famine. Here’s why they confirmed it for Gaza City

The world’s leading authority on food crises has determined that the Gaza Strip’s largest city is now gripped by famine

The Independent UK · Aug 22, 2025

UK watchdog investigates eight years of Deloitte audits of mining firm Glencore

FRC examines whether accounting firm ‘gave sufficient consideration to risk of non-compliance with laws’

The Guardian - UK · Jul 23, 2025

EY being investigated over Post Office auditing during Horizon scandal

Financial Reporting Council looking into whether firm met its standards in connection with Horizon IT system

The Guardian - UK · Apr 16, 2025

EY investigated by watchdog over audit of Post Office’s Horizon system

The Financial Reporting Council said it had started looking at the audits conducted between March 2015 and March 2018.

Evening Standard · Apr 16, 2025