Important decision on privilege in a regulatory context

19 February, 2020
In a judgment handed down yesterday, the Court of Appeal found that an audit client could not be compelled to produce its privileged documents to its auditor’s regulator: Sports Direct International plc v The Financial Reporting Council [2020] EWCA Civ 177. The case concerned the construction of the Financial Reporting Council’s (“FRC“) information-gathering powers (specifically … Read more

The FRC and enforcement action – what next?

05 February, 2020
Over the last year, three key reports have been published on the future of the audit and accountancy professions. These reports together propose significant reforms to audit and the manner in which it is regulated, including the replacement of the Financial Reporting Council (the “FRC”) with a new regulator with enhanced powers.  While the reviews … Read more