The timing of the news, reported in the Guardian, is likely to raise suspicions that the government is looking to divert attention away from the criticisms the Treasury is expected to receive in Lord Penrose’s investigation into the debacle.
That report is due to be released within days although Ernst & Young is expected to escape censure because Lord Penrose did not want to become involved in the legal battle between the Big Four firm and Equitable Life.
‘We will be studying the [Penrose] report to assess whether an investigation should be launched,’ the SFO said.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester