Audit: Fines
(asked on 9th October 2018) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 1 February (HL5096), how much in fines was received and passed on to other bodies in each of the years from 2004 to 2011 before the Statutory Auditors and Third Country Auditors Regulations 2016 (SI 2016/649) came into effect.
We are informed by the Financial Reporting Council (FRC) that the following fines were imposed under the FRC’s Accountancy Scheme from 2004 to 2011 and passed to the participating body which met the related case costs.
Year | Total Fines received | Fines passed to the accounting bodies |
2004 | NIL |
|
2005 | NIL |
|
2006 | NIL |
|
2007 | NIL |
|
2008 | £12,000 | CAI |
2009 | NIL |
|
2010 | NIL |
|
2011 | £1,640,000 | ICAEW |
Key
ICAEW: The Institute of Chartered Accountants in England and Wales
CAI: Chartered Accountants Ireland