UK watchdog gives King & King severe reprimand for failing ‘to identify clear self-interest’ when conducting audits
The UK’s accounting watchdog has fined and temporarily banned a tiny audit firm for “egregious” failures and “widespread deficiencies” linked to its work in signing off accounts of several companies in Sanjeev Gupta’s metals empire.
King & King and its managing partner Milankumar Patel have been fined a total of £378,184, received a “severe reprimand”, and hit with serious restrictions on audit work after a four-year investigation by the Financial Reporting Council (FRC).
Continue reading...
TH
Source
This article was originally published by The Guardian and written by Kalyeena Makortoff.
Read original article on The Guardian