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EY fined and reprimanded for deficient Thomas Cook work
The travel group’s collapse in 2019 resulted in job losses, closure of stores and repatriation of 140,000 travellers.
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FRC sanctions PwC for Wyelands Bank audit failures
Breaches of requirements were the result of the failure of the audit team to properly understand the bank’s lending and adequately consider the risks underlying its business model.
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Failed fintech Stenn took millions from Serbian groups aping blue-chips
Documents show HSBC uncovered ‘extensive and systemic’ invoice issues at UK start-up.
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Five internal audit resolutions for 2025
As regulations are scaled back, internal audit should articulate why this doesn’t offer a license for reducing resources, but an opportunity to recalibrate their focus.
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The undercover hedge funds financing activist short sellers
When Wall Street’s self-styled financial detectives allege malfeasance, these silent partners stand to reap the benefits.
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PCAOB spotlight on auditor responsibilities in making comms about illegal acts
The Spotlight reminds auditors of their obligations to make timely and appropriate communications about illegal acts by a company during an audit of its financial statements.
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SEC approves new PCAOB audit standards
Approved changes include updates to auditing standards and a critical rule change that will lower the standard of culpability for individual misconduct.
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OCC updates bank accounting FAQs
Bank Accounting Advisory Series updates revised for clarity.