The Financial Reporting Council ("FRC") has commenced an investigation into Saffery Champness in relation to its audit of the financial statements of Greensill Capital (UK) Limited for the year ended 31 December 2019.
The decision was made at a meeting of the FRC's Conduct Committee on 15 June 2021.
Notes to editors:
1. The FRC's purpose is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. The FRC sets the UK Corporate Governance and Stewardship Codes and UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality.