BDO Fined £2m by Audit Watchdog After Collapse of Construction Firm NMCN

BDO fined £2m for ‘pervasive breaches’ in audit of collapsed NMCN

UK regulator says mistakes in work for construction company were ‘significant and serious’

BDO fined £2m by audit watchdog after collapse of construction firm NMCN

The Financial Reporting Council also handed one of the accounting firm’s most senior partners, Geraint Jones, a fine.

BDO fined £1.3m over 'serious and significant' NMCN audit failings

The UK accounting watchdog has imposed sanctions on accountancy firm BDO and its former partner Geraint Jones after finding “serious and significant” breaches in an audit of collapsed firm NMCN. An investigation by the Financial Reporting Council (FRC) found “numerous and pervasive breaches” involving “shortcomings”… The post BDO fined £1.3m over ‘serious and significant’ NMCN audit failings appeared first on Construction News.

FRC fines BDO £1.3m over NMCN accounting failures

The Financial Reporting Council has issued a £1.38m fine to BDO and one of its partners, following an investigation into the firm’s 2019 financial statements of former London Stock Exchange-listed construction group NMCN.  It comes as the accounting watchdog identified severe audit failures at the collapsed construction company.  As a result, the FRC’s executive counsel issued a final settlement decision notice that imposed a £1.33m penalty on B…

UK FRC Sanctions BDO, Geraint Jones Related to NMCN Audit

The executive counsel of the Financial Reporting Council imposed sanctions against BDO and Geraint Jones, audit engagement partner, in relation to the statutory audit of the financial statements of NMCN for the financial year ended Dec. 31 2019, according to a statement.