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In a first, RBI imposes two-year ban on Haribhakti & Co from auditing regulated entities - This is the first time when RBI has taken this action against an auditor of a systematically important NBFC.
The Financial Reporting Council ("FRC") has commenced an investigation into Saffery Champness in relation to its audit of the financial statements of Greensill Capital (UK) Limited for the year ended 31 December 2019. The decision was made at a meeting of the FRC's Conduct Committee on 15 June 2021. Notes to editors: 1. The FRC's purpose is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. The FRC sets the UK Corporate Governance and Stewardship Codes and...
The Financial Reporting Council ("FRC") has commenced an investigation into PwC LLP in relation to its audit of the consolidated financial statements of Wyelands Bank plc for the year ended 30 April 2019. The decision was made at a meeting of the FRC's Conduct Committee on 15 June 2021. Notes to editors: 1. The FRC's purpose is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. The FRC sets the UK Corporate Governance and Stewardship Codes and UK standards...
Serba Dinamik – which has long been a darling of investors known for its steady increases in earnings even in tough times – said it was appointing an independent firm for a special independent review to assess the veracity and accuracy of the matters. continued to be suspended on Friday at the company’s request. In a statement to Bursa before market opened, it said Bursa Malaysia Securities had approved the company's request for suspension of trading on Friday. The voluntary suspension was pending the release of further clarification of the announcement made on May 25. The integrated...
Kenanga Investment Bank Research has downgraded Serba Dinamik to underperform from outperform after the company announced its external auditors, KPMG, had flagged some matters pertaining to statutory audit.