U.K.

Reducing K-1 penalties; another use for property taxes; 183 isn't always added up the same; and other highlights from our favorite tax bloggers.

Accountants have become key members of U.K. soccer clubs to find ways around spending rules and salary caps.

The scale of the retailer's overstatement is "quite shocking" and will likely impact management credibility, said one analyst.

Ember's accounting advisory services will be discontinued following the takeover, with around 30 employees being offered other roles at Starling.

The U.K.'s accounting watchdog is investigating Deloitte LLP's work on Glencore Plc and a U.K. unit, amid corruption scandals involving the commodity giant.

The Financial Reporting Council is probing several audits carried out by Deloitte and U.K. accounting firm Azets Holdings between 2017 and 2023.

The Chartered Institute of Management Accountants named John Graham as its next president, succeeding Simon Bittlestone, effective today.

The Financial Reporting Council found EY "demonstrated a complete lack of professional skepticism" and failed "to be alert to conditions that may have indicated possible fraud."

EY continued to audit NMC Health Plc despite suspicions that management withheld key documents that revealed its true debt position.

The Financial Reporting Council hit PwC with a $3.8 million penalty and one of its accountants with a $43,250 penalty over their audit of Sanjeev Gupta's Wyelands Bank.