Sector Regulation Sector Regulation

Auditors face being struck off under plans for new UK watchdog powers

By Fiona Maxwell and Phoebe Seers
  • 12 Apr 2022 07:53
  • 12 Apr 2022 07:53
The UK's biggest accountancy firms should see a plan for new regulatory powers to restrict or even remove their audit licenses for substandard performance announced this week.

The new powers for the Financial Reporting Council would target the Big Four of KPMG, Deloitte, Ernst & Young and PricewaterhouseCoopers and other firms that audit

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Fiona Maxwell

Senior Correspondent


Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for Risk.net, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

Phoebe Seers

Correspondent


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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