RSS feedsThe fallout from the failed attempt to discipline PwC and David Donnelly in the Mayflower case will be revealed by the Financial Reporting Council during the next quarter.
The FRC, which lost in its bid to avoid covering costs of the tribunal - calculated at £1m by an independent panel – will reveal the implications of the decision over the next three months.
The accounting watchdog said it would also begin a review of the operation of the Combined Code, and provide further proposals on the implementation of the 8th Directive requirements relating to foreign country auditors.
'Our effectiveness depends to a large extent on support from our stakeholders through their input to our work and their commitment to high standards of reporting and governance,' said FRC chief executive Paul Boyle.
'We look forward to their continuing support in the months ahead as we take important decisions relating to confidence in corporate reporting and governance.'
Further reading:
PwC on the offensive at Mayflower tribunal
