Audit regulator looking into Manchester City accounting
0 / 17
English
中文
The UK audit regulator has confirmed it is leading inquiries into accounting irregularities at Manchester City.
（暂无翻译）
The Financial Reporting Council confirmed in a letter to the House of Commons business select committee it had taken over "regulatory consideration" of the case from the Institute of Chartered Accountants in England and Wales on 30 September.
（暂无翻译）
No formal investigation has started, but the FRC is making inquiries into the case.
（暂无翻译）
It comes after Manchester City were found guilty by an independent commission of all charges relating to breaches of the Premier League's financial regulations between the 2009-10 and 2017-18 seasons, including by artificially inflating the club's financial position by more than £900m. City are appealing the verdict.
（暂无翻译） （暂无翻译）
The FRC has greater resources, and greater powers, to apply sanctions if it does find evidence of violations. It routinely oversees accounting standards at bigger institutions such as listed public companies, but not football clubs.
（暂无翻译） （暂无翻译）
The FRC can look into the conduct of BDO, Manchester City's auditors, to ask whether the audit was in line with the rules.
（暂无翻译）
It can also apply sanctions to individuals such as directors or employees of the Etihad club, if they are members of professional accountancy bodies.
（暂无翻译）
BDO is the UK's fifth-biggest accounting firm, but claims to be a market leader in football, advising more Premier League and Championship clubs than any other firm.
（暂无翻译）
The independent commission which looked into Manchester City found that the club gave a "misleading impression" of the scheme used to disguise the origin of shareholder funds injected into the club to its auditors, who were "unaware" of the scheme.
（暂无翻译）
Manchester City have said they will appeal against the commission's decision, arguing that it contains "material errors, of law, principle and fact and is unsafe".
（暂无翻译）
Liam Byrne, chair of the business select committee, called for greater powers for the FRC to look into similar cases.
（暂无翻译）
He wrote on X: "The regulator's letter exposes gaps in its ability to compel evidence from the club and pursue directors who fall outside its disciplinary rules.
（暂无翻译）
"This raises serious questions about the powers available to hold companies and directors to account.
（暂无翻译）
"The government has a responsibility to explain why reforms to close these gaps were abandoned - and what will now be done to strengthen accountability."
（暂无翻译）
Man City confirm appeal against guilty verdict
（暂无翻译）
仅供学习使用，如有侵权请联系删除 · 查看原文