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UK regulator tells auditors to justify ditching risky clients

UK regulator tells auditors to justify ditching risky clients

The Financial Reporting Council (FRC) said its new audit firm governance code, which came into effect in January, states that auditors must take account of the public interest when they take on or decline work. For accountants a key aspect of this public interest responsibility is that listed companies are required by law to have their accounts externally audited. “We will be concerned in situations in which the firms that are the most competent and capable to undertake an audit either resign, do not re-tender, or decline an invitation to tender with no consideration of the public interest implications,” the FRC said in its annual health check of audit quality at seven firms.
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SIU busts pastor for defrauding AgriSeta

SIU busts pastor for defrauding AgriSeta

Mokoteli and Anthony Dywili fraudulently applied to AgriSeta for R1.9m funding in March 2015. The money was for training and mentoring in a food garden operation in Kimberley, Northern Cape. The duo claimed that the application was a joint venture between Business Against Crime and Dipalemo Training Strategic Services, an AgriSeta accredited service provider.
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