Audit updates: May 2016

In this month's roundup of key audit developments, internal audit leads to SFO probe at Tata Steel in Yorkshire, FRC deadline for KPMG audit report into HBOS set for spring 2016, PwC buys media auditing firm and EY loses Weir Group audit

SFO investigation at Tata Steel post internal audit

Amidst uncertainty over its future in the UK, giant steel company Tata has confirmed that it has suspended 10 individuals in relation to an internal audit discovery of inappropriate testing and certification procedures at the company’s South Yorkshire-based Speciality Steels business.

The matter is now also at the centre of a Serious Fraud Office (SFO) criminal investigation, which began in December 2015. The SFO is investigating events which took place over the course of 2015.

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SFO investigation at Tata Steel post internal audit

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