FRC sanctions Baker Tilly auditors after Tanfield probe
Baker Tilly UK Audit, now part of RSM, has been reprimanded and fined £750,000 following the conclusion of a Financial Reporting Council (FRC) investigation into the audit of the financial statements of Tanfield Group and two of its subsidiaries for the year ended 31 December 2007.
Richard King, who was the engagement partner for the audits of Tanfield Group, received a reprimand and a fine of £30,000, and Steven Railton, who was the engagement partner for the two subsidiaries under investigation, was reprimanded and fined £35,000. The tribunal also made a costs order against Baker Tilly.
Read more at Accountancy Daily.