Financial Reporting Council FRC
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Who they are
The FRC regulates auditors, accountants and actuaries and sets the UK Corporate Governance Code and the Stewardship Code.
What they do
Its stated aim is to promote transparency and integrity in business, with standards for corporate governance, reporting and audit. The audit profession funds it mainly under the Companies Act 2006.
Enforcement by this regulator
The latest 10 of 11 — see all 11 on the Enforcement tab.
| Date | Entity | Action | Penalty | Source |
|---|---|---|---|---|
| 8 Oct 2026 | Deloitte LLP (audit firm) | Settlement Formal Reprimand | £6,050,000≈ US$8,001,730 | official |
| 28 Jul 2026 | Ernst & Young LLP (audit firm) | Settlement Formal Reprimand | £1,197,000≈ US$1,591,052 | official |
| 16 Jul 2026 | John Waters (individual (audit engagement partner)) | Settlement Formal Reprimand | £59,062≈ US$79,669 | official |
| 16 Jul 2026 | PricewaterhouseCoopers LLP (audit firm) | Settlement Formal Reprimand | £3,248,437≈ US$4,381,817 | official |
| 2 Jul 2026 | Forvis Mazars LLP (audit firm) | Settlement Formal Reprimand | £577,125≈ US$771,962 | official |
| 23 Jun 2026 | Milankumar Patel (individual (audit engagement partner)) | Prohibition Order Disgorgement / Restitution | £326,184≈ US$430,595 | official |
| 28 May 2026 | Geraint Jones (individual (audit engagement partner)) | Settlement Formal Reprimand | £49,875≈ US$66,992 | official |
| 28 May 2026 | BDO LLP (audit firm) | Settlement Formal Reprimand | £1,330,000≈ US$1,786,456 | official |
| 6 Nov 2025 | Kevin Cook (individual (audit engagement partner)) | Prohibition Order Settlement | £90,000≈ US$117,918 | official |
| 6 Nov 2025 | John Everingham (individual (audit engagement partner)) | Prohibition Order Settlement | £189,000≈ US$247,628 | official |
Latest news
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