FRC’s glide follows Rolls-Royce’s deal with SFO to pay £671m to settle corruption allegationsThe UK’s accounting watchdog has begun an investigation into KPMG’s audit of Rolls-Royce,after the engineering group settled a bribery case with the Serious Fraud Office earlier this year.
Rolls-Royce agreed in January to pay £671m in penalties to settle long-running corruption allegations, in a deferred prosecution agreement. The cost of the settlement coupled with the slide in the pound since the Brexit vote pushed the firm into a £4.6bn annual loss, and the biggest in its history. Related: Rolls-Royce calls its first staff AGM Continue reading...
Source: theguardian.com