RSM and Mazars pay back furlough money & more…Keep up with what has been happening  in our latest accountancy news round-up…

Autonomy auditors investigated in FRC report

In a report published by the Financial Reporting Council, it was founded that Deloitte’s audits of Autonomy between 2009 and 2011 allowed the firm to show a ‘misleading picture of its financial position’.

RSM and Mazars pay back furlough money

RSM has decided to pay back £4.4m furlough money to the government as well as challenger firm Mazars who have also paid back the £1.1m they have used from the furlough scheme.

BDO will not repay £4.5m furlough money

One of the UK’s leading accountancy firms, BDO, have refused to pay back £4.5m it received from taxpayers as furlough money despite paying its partners a total of £137m.

ICAEW warns that an audit reform will fail without fundamental overhaul

In a manifesto published by the ICAEW, it has stated that the success of any audit reform and changes to the structure and regulation of firms will depend on a clearer understanding of the role and the purpose of audit based on their five principles.