Keep up to date with the latest accountancy news in our weekly round-up…

 

Mitie investigation closed by accountancy regulator after three years

Accountancy watchdog, the Financial Reporting Council (FRC), has closed its investigation into the preparation and approval of outsourcer MITIE PLC’s financial statements for the year to March 2016.

KPMG confirms staff pension cuts and redundancies proposal

KPMG has begun a consultation on reducing pensions contributions, effecting around 20% of staff if agreed on, Professional Pensions finds.

EY warned Wirecard that special audit risked misinterpretation

EY told Wirecard that the draft of an independent audit report by KPMG lacked “context” and could lead to wrong conclusions about the business at the heart of an accounting scandal that has shaken corporate Germany.

City watchdog drafts in BDO to aid Wirecard monitoring

The Financial Conduct Authority has drafted in a team from BDO to work on its response to the Wirecard crisis. A person close to the regulator said BDO had been appointed to ensure Wirecard’s compliance with a series of restrictions, including keeping relevant funds safeguarded in accounts overseen by British banking supervisors.

Grant Thornton faces legal action over Patisserie Valerie audit

Grant Thornton is reportedly facing legal action over its auditing of café chain Patisserie Valerie, which collapsed last year following allegations of suspected fraud.

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