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Why we should worry about FRC evasiveness over HBOS

In Blog by Ian Fraser1 Comment

30 March 2016 By Atul K. Shah The failure of the UK’s fifth largest bank, HBOS, led to over £52 billion of losses, and had a significant impact on jobs, pensions and savings for thousands of people. In spite of a large number of enquiries and reports, no-one has gone to …

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KPMG’s annual report—vague about ethics

In Blog by Ian Fraser0 Comments

25 March 2016 By  Atul Shah The growing size and influence of “big four” accountancy firms as they further transform themselves into global business services supermarkets is generating alarm among many who are concerned about ethics, independence and truth. Our research at Suffolk Business School has raised a number of questions …

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Paul Moore: Why Griffith-Jones must step down as FCA chairman

In Blog by Ian Fraser2 Comments

April 20th, 2013 Trust in UK financial regulation and auditing cannot be rebuilt unless John Griffith-Jones (pictured right) steps down as chairman of the Financial Conduct Authority, writes HBOS whistleblower Paul Moore, who is also calling for a public inquiry into KPMG’s pre-crash audits of the collapsed bank HBOS. The need for such an inquiry …

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Goodwin may face criminal charges after all

In Blog by Ian Fraser0 Comments

14 December 2011 Note: An edited version of this blog post is available at Huffington Post UK The FSA spent an estimated £10m on its report into the failure of RBS, including £7.7m paid to ‘Big Four’ accountants PWC. But the Canary Wharf-based regulator has lived up to its name …

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Big Four finally held to account

In Article Library by Ian Fraser4 Comments

By Ian Fraser Published: Sunday Herald Date: 2 October 2011 The “Big Four” accountancy firms, whose complacency and dereliction of duty were major contributors to the banking crisis that tipped the UK into recession, could be getting their comeuppance at the hands of the European Union. The story of Deloitte, Ernst …

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Italy offers a warning

In Article Library, Latest Articles by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 17 July 2011 There aren’t many signs of national bankruptcy in Siena. There is the odd boarded-up shop and the occasional “everything under 99c” store but the cafes are full and la dolce vita goes on. So it came as a shock to find …

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The horse has bolted, but at least the Lords have started to clear out accountancy’s Augean stables

In Blog by Ian Fraser0 Comments

March 30th, 2011 Here is Lord MacGregor, a former Conservative chief secretary of the Treasury, unveiling the hard-hitting and long-awaited conclusions of the House of Lords Economic Affairs Committee’s report into audit profession. This is an inquiry I’ve been following with interest and which I’ve written on Qfinance (Scrap mark-to-market …