• Register
Return to: Home > News > Professional Bodies > News brief: FRC launches investigation into KPMG’s audit for Rolls Royce

News brief: FRC launches investigation into KPMG’s audit for Rolls Royce

The Financial Reporting Council (FRC) has begun an investigation into the conduct of KPMG regarding the audit of Rolls Royce’s financial statements.

The investigation for the audit of Rolls Royce group is for the year end 31 December 2010 and of Rolls Royce Holdings plc for the years ended 31 December 2011 to 31 December 2013.

The investigation is being conducted under the Audit Enforcement Procedure following an announcement in January of a Deferred Prosecution Agreement (DPA) between the SFO and Rolls-Royce PLC regarding offences including conspiracy to corrupt and a failure to prevent bribery.

Responding to the FRC’s announcement KPMG stated: “It is important that regulators acting in the public interest should review high profile issues.  We will co-operate fully with the FRC’s investigation, which follows the SFO’s investigations into Rolls-Royce. We are confident in the quality of all the audit work we have completed for Rolls-Royce, including the 2010-2013 period the FRC is considering.”

Top Content

    2018 Digital Accountancy forum and awards: Digital transformation

    The Accountant presents highlights from The Digital Accountancy Forum & Awards 2018 panel discussions

    read more

    2018 Digital Accountancy Forum and Awards: Tech deep dive

    The second panel session of the day saw experts discuss how new technologies should not just be seen as a threat, and could be used to improve accounting.

    read more

    Digital Accountancy Forum and Awards: The power of data

    The third panel discussion of the day saw panellists discuss some of the worries their clients have had, how to overcome them, and how data and technology are providing real business opportunities.

    read more

    Digital Accountancy Forum and Awards: The next generation

    With young people more mobile, and technology changing the industry rapidly, the final panel session of the Digital Accountancy Forum looked at how firms would need to adapt to the new reality

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.