AUDIT WARNING

Britain’s big four accountancy firms will face fines of up to £10m as part of regulatory powers aimed at clamping down on poor audit work.

Rules governing auditors, accountants and actuaries could also see rogue operators excluded from the profession for a minimum of ten years for dishonesty.

KPMg, PwC, Deloitte and EY make up the four biggest accountancy firms in the uK.