AN INVESTIGATION into the conduct of a member of ICAS in connection with the financial statements of the Equitable Life Assurance Society in 1999 has been closed by the FRC’s disciplinary board.
In a statement issued by the FRC, the AADB said that, following the conclusion of the investigation, it decided there is “no realistic prospect that a tribunal would make an adverse finding against the accountant concerned”.
Consequently, no further action will be taken and the case will be closed.
The investigation focused on the provision by the member of information for use by the Financial Reporting Review Panel.
In August, the FRC closed an investigation into the conduct of an Ernst & Young actuary in connection with the audits of Equitable Life.
Committee expresses concern about costs to businesses and April 2018 implementation date
ACCA and Morison KSi have signed a global Memorandum of Understanding (MOU) to raise accountancy profession standards
Drastically fewer offices for HMRC in the hope to reduce their running costs
Former RSM Tenon CEO Andy Raynor fined and reprimanded over its accounting, with both its former FD and auditor PwC facing complaints from the FRC