HBOS heat turns on head of new City regulator John Griffith-Jones

Posted 11/04/2013 - 08:40 by anrigaut

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2013-04-09 23

The fomer head of accountants KPMG, John Griffith-Jones, has been dragged into the HBOS furore as questions are asked about his suitability to head the City's new regulator given the auditor's role at the failed bank.

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The accountancy profession's regulator, the Financial Reporting Council, also confirmed that it is considering an investigation into KPMG following last week's scathing banking standards commission report into HBOS and an upcoming Financial Services Authority inquiry. The FRC said it would "consider the commission and FSA reports to identify whether there is a case for an investigation under our powers".

Its scrutiny of the role of KPMG at HBOS may be pre-empted by the Tyrie commission's final report. It will contain a chapter on the tax experts, auditors and accountants and their role in banking. The report is expected to be published next month and could also address the audit work of Deloitte at Royal Bank of Scotland. ...