UK Accounting board investigates RSM Tenon audits

The Accounting and Actuarial Discipline board has launched an investigation into the accounting errors discovered at RSM Tenon earlier this year.

The board said the investigation will centre on "certain members" of the Institute of Chartered Accountants as well as PwC's role as auditors of RSM Tenon, with a focus on the latter's financial statements for the years to 30 June 2010 and 2011. The review will also focus on the preparation, approval and review of financial information in connection with the admission of RSM Tenon to the main market of the London Stock Exchange and the acquisition of RSM Bentley Jennison. The move follows a series of problems for the RSM Tenon, following a profit warning issued in January - the compan...