The investigation by the Securities and Exchange Commission, together with tighter rules on accounting processes in the wake of a catalogue of high profile corporate scandals, means the US mortgage financier’s auditor KPMG hasn’t yet signed off its accounts.
Industry observers say it’s unlikely KPMG will sign off the accounts ahead of the SEC concluding its inquiry, otherwise the Big Four firm could also expose itself to sanctions or fines, according to The Financial Times.
The company said it would try to release its results by 15 November but offered no guarantees.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day