{"id":18225,"date":"2012-11-16T09:27:18","date_gmt":"2012-11-16T09:27:18","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=18225"},"modified":"2012-11-16T09:27:18","modified_gmt":"2012-11-16T09:27:18","slug":"at-last-ernst-young-to-be-held-to-account-for-their-farepak-audit","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/11\/16\/at-last-ernst-young-to-be-held-to-account-for-their-farepak-audit\/","title":{"rendered":"At last: Ernst &#038; Young to be held to account for their Farepak audit"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/1a3f59c4-2f39-11e2-b88b-00144feabdc0.html#ixzz2CNNOHoaQ\" target=\"_blank\">FT reports<\/a>:<\/p>\n<blockquote><p>The UK arm of Ernst &amp; Young and one of its former partners have been accused of misconduct in relation to their auditing of Farepak, the Christmas hamper savings club that collapsed six years ago.<\/p>\n<p>The Financial Reporting Council, the accounting and corporate governance regulator, said on Thursday it had filed a formal disciplinary complaint over the matter.<\/p>\n<div>It alleged that Alan Flitcroft, lead partner on the Farepak audit, and Ernst &amp; Young had fallen short of their professional duties in vetting the accounts for the year to April 28 2005.<\/div>\n<p>It accused them of various specific failings, including neglecting to consider properly Farepak\u2019s ability to continue as a going concern and to obtain sufficient appropriate audit evidence on which to base their opinion.<\/p><\/blockquote>\n<div>\u00a0At last. One day there will be justice for those who suffered as a result of the\u00a0indifference\u00a0of this company, its bank and its\u00a0auditors.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The FT reports: The UK arm of Ernst &amp; Young and one of its former partners have been accused of misconduct in relation to their<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/11\/16\/at-last-ernst-young-to-be-held-to-account-for-their-farepak-audit\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81,60],"tags":[],"class_list":["post-18225","post","type-post","status-publish","format-standard","hentry","category-auditing","category-ernst-young"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/18225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=18225"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/18225\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=18225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=18225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=18225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}