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Violation Tracker UK Individual Case

Company: Macalvins Limited
Company City/Town: Harrow
Company Nation/Region: England
Penalty: £1,500
Year: 2021
Date: 26 January, 2021
Offence Group: financial offences
Offence Type: accounting fraud or deficiencies
Violation Description: Macalvins Limited, Harrow, United Kingdom, has agreed to pay a regulatory penalty of £1,500, which was decided by the Audit Registration Committee. The firm ownership structure was changed by the insertion of a holding company. This was in view of the firm's admitted breach of audit regulations 2.11, 2.03b and 2.07, for its failure to notify ICAEW of changes within 10 business days, its failure to ensure that the voting rights were held by individuals holding an appropriate qualification or a registered auditor, and for continuing as a registered auditor after it had ceased to meet one of the eligibility requirements.
Action Type: agency action
Settlement Type: Audit Registration Committee decision
Agency: Institute of Chartered Accountants in England and Wales
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