|
|
10 Oct 2012
SMITH & WILLIAMSON has been hit with a £5,000 in a fine and costs over its audit of an FSA-regulated business.
The firm agreed to a consent order from the ICAEW's investigation committee after it was found to have failed to obtain sufficient appropriate evidence that its client had maintained adequate systems to comply with client money rules.
Further reading
Smith & Williamson was fined £2,500 and ordered to pay costs £2,555 by the committee.
A number of other firms were also fined by the institute.
Mackenzie Field agreed to pay a £5,500 regulatory penalty for failing to carry our cold-file reviews as part of the annual audit compliance review, and for the incorrect completion of the annual return. Hope Jones agreed to pay a £6,000 penalty for a similar matter.
Allens Accountants in Stockport agreed a £3,500 regulatory penalty for allowing a person in a position to influence the conduct and outcome of an audit to act as a trustee of a trust that held a financial interest in an audit client material to the trust.
You may also like
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment