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Letter to the Financial Reporting Council: Auditors LB Group & the fraud Regtech Open: ref relevant experience

By Tom Winnifrith | Sunday 28 April 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Yesterday I dropped a note to the boss of the UK’s 72nd largest accountants LB Group warning him of his mistake in agreed to do the books for the fraud Regtech Open Project (RTOP). Today it is the Financial Reporting Council getting an email suggesting that it be proactive in stopping LB acting for Regtech. For by its own admission LB is not qualified to do the job.
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