Closure of investigation under Accountancy Scheme
News types: Investigations
Published: 21 February 2023
The Financial Reporting Council (FRC) today announces the closure of its investigation under the Accountancy Scheme in relation to the preparation and approval of the financial statements of Serco Geografix Ltd, Serco Ltd and Serco Group plc for the years ended 31 December 2011 and 31 December 2012.
The investigation commenced in June 2016 in relation to the preparation, approval, and audit of the financial statements of Serco Geografix Ltd, Serco Ltd and Serco Group plc for the years ended 31 December 2011 and 31 December 2012.
The FRC previously took action in respect of the 2011 and 2012 audits of Serco Geografix Limited for the years ended 31 December 2011 and 2012 (see published links for the sanctions announcement and particulars of fact and acts of misconduct).
Under the Accountancy Scheme, the FRC may investigate Accountancy Scheme Members and Member Firms. No Serco Group companies were subjects of the FRC’s investigation.
The closure of the remaining aspect of the FRC’s investigation follows the conclusion of the criminal proceedings brought by the Serious Fraud Office, and further consideration by the FRC.
The investigation commenced in June 2016 in relation to the preparation, approval, and audit of the financial statements of Serco Geografix Ltd, Serco Ltd and Serco Group plc for the years ended 31 December 2011 and 31 December 2012.
The FRC previously took action in respect of the 2011 and 2012 audits of Serco Geografix Limited for the years ended 31 December 2011 and 2012 (see published links for the sanctions announcement and particulars of fact and acts of misconduct).
Under the Accountancy Scheme, the FRC may investigate Accountancy Scheme Members and Member Firms. No Serco Group companies were subjects of the FRC’s investigation.
The closure of the remaining aspect of the FRC’s investigation follows the conclusion of the criminal proceedings brought by the Serious Fraud Office, and further consideration by the FRC.