FSA pay half a million pounds for firms' secondees
KPMG, E&Y and PwC paid for secondees to the FSA
KPMG, E&Y and PwC paid for secondees to the FSA
The Financial Services Authority paid out nearly half a million pounds to secondees from accounting, law and banking firms during the last financial year.
In details from a Freedom of Information request by the FT, 32 secondees from KPMG, E&Y, PwC, Herbert Smith, Clifford Chance and Standard Chartered were supplied to the FSA.
The secondees from Big Four firms cost the FSA a total £163,000.
FSA spokesman Christopher Hamilton said it was common practice for the FSA to take secondees from industry and vice versa, to provide specialist insight and experience.
Further reading:
Regulator fears auditors may abandon scepticism to meet deadlines
Government considers merging FRC and FSA
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceNeil Walking leaves the EY’s regulatory practice after four years Read More...
View articlePwC racks up four embarrassing audit exposures with E&Y and KPMG hot on their heels Read More...
View articleFSA fines the sports retailer for failing to tell the market about the true cost of two acquisitions Read More...
View articleSocGen receives fine for failing to submit accurate reports for approximately 80% of its reportable transactions, across all of its asset classes, for...
View articleProfession defends role of auditors in lead-up to banking crisis, but accepts need for change Read More...
View article