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Violation Tracker UK Individual Case

Company: Arrandco Audit Ltd.
Penalty: £790,000
Year: 2018
Date: 23 January, 2018
Offence Group: financial offences
Offence Type: accounting fraud or deficiencies
Violation Description: The Financial Reporting Council fined and reprimanded the audit firm Arrandco Audit Ltd. (formerly RSM Tenon Audit Ltd.) and an Audit Engagement Partner following an investigation opened in August 2015. Both parties admitted Misconduct in relation to the audit of the financial statements of Quindell Portfolio plc and Quindell Ltd for the period ended 31 December 2011. Tenon received a Reprimand and a fine of £1,000,000 (adjusted for mitigating factors and discounted for settlement to £700,000) and agreed to pay a sum of £90,000 towards Executive Counsel's costs.
Action Type: agency action
Agency: Financial Reporting Council
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