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Top related persons:
Reinhard Krause - 1 Carillion - 1 Richard Moriarty - 1 Moriarty - 1 Peter Meehan - 1 Meehan - 1 Jon Holt - 1 Holt - 1
Top related locs:
London Britain Brookfield
Top related orgs:
BHS - 2 KPMG - 1 Canary - 1 REUTERS - 1 Council - 1 FRC - 1 PwC - 1 Deloitte - 1

Search resuls for: "BHS"


3 mentions found


☆ KPMG hit with record fine for 'textbook failure' in Carillion audits
  + stars: | 2023-10-12 | by ( Huw Jones | ) www.reuters.com   time to read: +3 min
The Financial Reporting Council (FRC) said the number, range, and seriousness of the deficiencies in the audits of Carillion were exceptional, resulting in the watchdog's highest ever fine. On occasions, KPMG audit partner Peter Meehan told his team to record his review of working papers without having done a review, the FRC said. Meehan, no longer with KPMG, was fined 350,000 pounds after a discount to reflect his cooperation and admission of failures. It would have been 30 million pounds, but was discounted due to admissions and co-operation by the auditor. KPMG was fined 14.4 million pounds last year after providing false and misleading information to the FRC during spot checks on audits of Carillion and outsourcing firm Regenersis.
Persons: Reinhard Krause, Carillion, Richard Moriarty, Moriarty, Peter Meehan, Meehan, Jon Holt, Holt, Huw Jones, Sharon Singleton, Mark Potter Organizations: KPMG, Canary, REUTERS, BHS, Council, FRC, PwC, Deloitte, EY, Thomson Locations: London, Britain
☆ Investment giant Brookfield is shuttering its $1 billion multi-strategy hedge fund
  + stars: | 2023-07-27 | by ( Alex Morrell | ) www.businessinsider.com   time to read: +1 min
Investment giant Brookfield is closing its hedge fund group BHS Advisors. The multi-strategy fund launched in 2019 and managed $1.3 billion in assets earlier this year. Canadian asset management behemoth Brookfield Corporation is shutting down its multi-strategy hedge fund Brookfield Hedge Solutions Advisors. BHS Advisors, a multi-strategy hedge fund platform within the $825 billion conglomerate, is winding down after four years, according to people familiar with the matter. In recent years billions in capital have flooded into multi-strategy hedge funds like Citadel, Millennium, and Point72, which employ teams of traders across a variety of strategies.
Organizations: BHS Advisors, behemoth, Solutions, Brookfield, Intelligence, Citadel, BHS, Financial Times Locations: Brookfield
☆ PwC hit with $8.9 million penalty for 'serious breaches' on Babcock audits
  + stars: | 2023-03-08 | by ( Iain Withers | ) www.reuters.com   time to read: +2 min
LONDON, March 8 (Reuters) - Britain's auditing watchdog has imposed a 7.5 million pound ($8.9 million) penalty on PwC for "serious breaches" found in audits of engineer Babcock International (BAB.L), the regulator said on Wednesday. The fine was discounted by 25% to 5.6 million pounds due to early resolution, the regulator said. The FRC said breaches identified on PwC's audits of Babcock included repeated failures to challenge management and obtain sufficient appropriate evidence. Two PwC partners - Nicholas Campbell Lambert and Heather Ancient - were also fined 200,000 pounds and 65,000 respectively, discounted to 150,000 pounds and 48,750 pounds respectively. The FRC's investigation into PwC's statutory audits of the Babcock group financial statements for 2019 and 2020 is ongoing.
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