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Violation Tracker UK Individual Case

Company: MSR Partners LLP
Company City/Town: London
Company Nation/Region: England
Penalty: £455,813
Year: 2019
Date: 9 May, 2019
Offence Group: financial offences
Offence Type: accounting fraud or deficiencies
Violation Description: MSR Partners was fined £455,813 by The Financial Reporting Council after admitting 11 breaches of Relevant Requirements. The breaches were serious and pervasive throughout the audit and included: setting materiality at three times the appropriate level; failing to gather sufficient appropriate audit evidence when assessing the use of the going concern assumption; and failure to obtain sufficient appropriate audit evidence in relation to their work on revenue.
Action Type: agency action
Settlement Type: Financial Reporting Council decision
Agency: Institute of Chartered Accountants in England and Wales
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