Latest news with #FinancialReportingCouncil
Economic Times
6 days ago
- Business
- Economic Times
UK watchdog probes Deloitte's audits of Glencore's 2013-2020 accounts
Britain's accounting watchdog said on Wednesday that it is investigating Deloitte LLP's audits of commodities trader Glencore and one of its divisions for the financial years ended December 2013 through December 2020. The Financial Reporting Council (FRC) is examining whether Deloitte properly assessed the risk of legal and regulatory breaches during its audits. Glencore and its unit, Glencore Energy UK Limited, have faced extensive investigations by government agencies in recent years over allegations of bribery and corruption. The firm's former head of oil Alex Beard and five other ex-employees of the Swiss commodity trader will stand trial in a London court in 2027 on bribery charges. "We are committed to the highest standards of audit quality and will fully co-operate with the Financial Reporting Council," a Deloitte UK spokesperson told Reuters. Glencore declined to comment.
Time of India
6 days ago
- Business
- Time of India
UK watchdog probes Deloitte's audits of Glencore's 2013-2020 accounts
Britain's accounting watchdog said on Wednesday that it is investigating Deloitte LLP 's audits of commodities trader Glencore and one of its divisions for the financial years ended December 2013 through December 2020. The Financial Reporting Council (FRC) is examining whether Deloitte properly assessed the risk of legal and regulatory breaches during its audits. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science MCA Management Healthcare Technology Product Management Data Analytics Operations Management Public Policy Others Project Management Digital Marketing Design Thinking healthcare others Artificial Intelligence Data Science MBA CXO Finance PGDM Degree Leadership Cybersecurity Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Glencore and its unit, Glencore Energy UK Limited , have faced extensive investigations by government agencies in recent years over allegations of bribery and corruption. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Never Mix This Skinny Drink With Water – It May Burn Fat Too Fast Hollywood News | USA Click Here Undo The firm's former head of oil Alex Beard and five other ex-employees of the Swiss commodity trader will stand trial in a London court in 2027 on bribery charges. "We are committed to the highest standards of audit quality and will fully co-operate with the Financial Reporting Council," a Deloitte UK spokesperson told Reuters. Live Events Glencore declined to comment.
Bloomberg
7 days ago
- Business
- Bloomberg
Glencore Audits by Deloitte Probed by UK Watchdog
The UK 's accounting watchdog is investigating Deloitte LLP 's work on Glencore Plc and a UK unit, amid corruption scandals involving the commodity giant. Glencore and its Glencore Energy UK Ltd. unit 'have been subject to investigations by government agencies into misconduct,' the Financial Reporting Council said in a statement on Wednesday.
The Herald Scotland
7 days ago
- Business
- The Herald Scotland
NRS hand contract for 2031 census to private firm
The company – one of the so-called Big Four accountancy firms – has faced multiple fines globally in recent years, including a £15 million penalty in 2020 from the UK's Financial Reporting Council over audit failures at software firm Autonomy. READ MORE The last census faced significant challenges. The Scottish Government decided in July 2020 to delay it by a year, taking it out of sync with the exercise in England and Wales. That decision was blamed for low returns, forcing SNP ministers to extend the deadline by a month. Despite the extension, only 89% of homes in Scotland returned the survey – short of the government target and well below the 97% overall return rate reported in England and Wales. On Public Contracts Scotland, the [[Scottish Government]]'s "national portal for public sector contract opportunities", the contract is described as being for an "Outline Business Case by May 2025, to feed into [[Scottish Government]] funding cycles for 26/27 and beyond". This will involve "working with NRS and partners to draw from the Strategic Outline Case and draw updated material from the Programme on the preferred option and delivery approach". "It is quite shocking to find out that the Scottish Government has handed responsibility for the next Scottish census to a private company," said Robin McAlpine of Common Weal. He described the 2022 Scottish census as "effectively the first failed census in modern history." "This is just the same old story of Scotland's public sector being privatised by stealth and of the core data on which public policy is based being shaped not for the public good but by the same financial elite which has been fined again and again and again for corruption carried out in favour of its clients," Mr McAlpine said, "It is beyond belief that Scotland's emaciated and failing civil service is not capable of designing a census, just as it is beyond belief that we allow private sector interests to shape core public data, even after their role in the failure of the 2022 census. "As best as we can tell, the National Records of Scotland has been wholly captured by Edinburgh's corporate sector. This should be of very great concern to every Scottish citizen." READ MORE A National Records of Scotland spokesperson said: "NRS will run and is fully responsible for the next census in Scotland in 2031. Deloitte were commissioned for a time-limited period to assist specifically with the development of an Outline Business Case. "This was based on the specialist skills and expertise they could provide in this area. "The 2022 census delivered valuable data for Scotland, with NRS gathering, analysing and presenting over a billion statistics which represented Scotland's whole population. "These statistics are already being used to inform decision making across our economy and society. "The statistics regulator awarded Scotland's Census 2022 results with Accredited Official Statistics designation based on the quality, good practice and comprehensiveness of the data."
Bloomberg
10-07-2025
- Business
- Bloomberg
UK Probes Deloitte, Azets Audits of Collapsed Fintech Stenn
Deloitte LLP faces an investigation into its work on units of Stenn Technologies, the trade-finance firm backed by some of the world's biggest banks that went bust. The UK's Financial Reporting Council has opened an investigation into several audits carried out by Azets Holdings and Deloitte on Stenn Assets UK Ltd. and Stenn International Ltd. between 2017 and 2023, according to an emailed statement Thursday.
