Regulator hands out record £43m fines for bad audit

摘要

The record number of fines is the result of the conclusion of a number of long-standingcases, with audit firms slated for poor quality audit and lack of interrogation of accounts, withthe majority of fines around the £5m mark. The regulator has also been under pressurefollowing the Clarke (https://www.accountancydaily.co/what-clarke-review-means-frcsanctions-regime) report to issue higher fines for audit misconduct.