UK accounting watchdog fines auditor of collapsed retailer Laura Ashley

UHY Hacker Young given severe reprimand" over audits that failed to highlight firm's uncertain future

Britain's accounting watchdog has issued a severe reprimand" to the auditor of Laura Ashley, after it failed to highlight risks over the fashion and homeware chain's future in two reports before its collapse.

The Financial Reporting Council (FRC) said it had fined UHY Hacker Young 300,000, and imposed other sanctions against the firm, relating to its audits of the retailer, which slid into administration during the pandemic.