FRC Imposes £1.33m Fine on BDO for Audit Failures at NMCN
The UK Financial Reporting Council (FRC) has fined audit firm BDO £1.33 million and reprimanded its partner Geraint Jones over significant failings in the 2019 audit of collapsed construction company NMCN. The penalty was reduced due to cooperation, admissions, and early settlement.
Topics: BDO financial penalty FRC NMCN audit