Financial Reporting Council News
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The U.K.'s accounting watchdog on May 9 said it had placed KPMG Audit Plc under two separate investigations in connection with its audits of a car seller and the conduct of one of the firm's partners.
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The U.K.’s accounting watchdog placed KPMG LLP under two separate investigations, examining its audits of a car seller and the conduct of one of its partners.
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Michael Rake has resigned from his role on the board of the Financial Reporting Council after turning down a request to stay in the role, The Sunday Telegraph reported, without saying where it got the information.
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Barclays Plc, the U.K.’s second- largest bank by value, said it will consider tendering its audit contract held for 117 years by PricewaterhouseCoopers LLP.
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U.K. fraud prosecutors’ use of Autonomy Corp. software may present a conflict of interest that could stop their investigation of claims by Hewlett-Packard Co. that Autonomy managers misrepresented results.
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U.S. Representative John Campbell plans to offer legislation aimed at reducing the size of “too- big-to-fail” banks by requiring them to hold more capital including long-term debt.
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Saudi Arabia issued final regulations on real estate financing, leasing and the supervision of financial companies as the kingdom tries to ease a housing shortage by opening up its mortgage market and enacting the first home-loans law.
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Autonomy Corp.’s financial reporting in the years leading up to Hewlett-Packard Co.’s acquisition is being investigated by the U.K. accounting regulator.
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The U.K. government formally started the search for a replacement body to oversee the London interbank offered rate as it tries to restore credibility to a benchmark tainted by scandal.
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KPMG International’s U.K. unit is being investigated by Britain’s accounting regulator over its audits of BAE Systems Plc , the defense company that has agreed to plead guilty to bookkeeping irregularities.
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