Audit Regulator Examines Manchester City Over Financial Irregularities
· Sports · BBC News, BBC Sport
The UK audit regulator has confirmed it is leading inquiries into accounting irregularities at Manchester City following a transfer of regulatory oversight. The Financial Reporting Council took over consideration of the case from the Institute of Chartered Accountants in England and Wales on 30 September. No formal investigation has commenced, but the regulator is examining conduct following an independent commission ruling that found the club guilty of breaching Premier League financial regulations between the 2009-10 and 2017-18 seasons. The commission found that the club artificially inflated its financial position by more than £900m and gave a misleading impression of funding schemes to its auditors at BDO. Manchester City have confirmed they are appealing the verdict, arguing that the decision contains material errors of law, principle, and fact.
Why it matters
The inquiries test the legal and regulatory reach over Premier League clubs and their auditors, carrying potential disciplinary consequences for club officials and accounting professionals.
Read the original report — BBC News
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