U.K.

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.

Mike Lynch, who is missing after his yacht sank off Sicily, had only recently fended off a U.S. criminal fraud case over the sale of his company to Hewlett Packard.

An influx of investors is accelerating growth in the professional services sector.

More than half of phone calls to HMRC are now going unanswered.

Crowe plans to add Belt Harris Pechacek; and PKF Smith Cooper acquired BLB Advisory.

A former employee of U.K. tech mogul Mike Lynch's Autonomy Corp. told jurors at his U.S. criminal trial that she and one of her higher-ups were both fired after flagging concerns about accounting irregularities.

It would cap a remarkable downfall for Mike Lynch if he's convicted of accounting fraud after he sold his startup Autonomy to Hewlett Packard for $11 billion.

The Financial Reporting Council is considering either Canary Wharf or Stratford for its new main office.