Audit regulator looking into Manchester City accounting

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   Audit regulator looking into Manchester City accounting

   BBC NewsPublished Oct 20, 2026Checked Oct 20, 2026

   “The UK audit regulator has confirmed it is leading inquiries into accounting irregularities at Manchester City. The Financial Reporting Council confirmed in a letter to the House of Commons business select committee it had taken over "regulatory consideration" of the case from the Institute of Chartered Accountants in England and Wales on 30 September. No formal investigation has started, but the FRC is making inquiries into the case. It comes after Manchester City were found guilty by an independent commission of all charges relating to breaches of the Premier League's financial regulations between the 2009-10 and 2017-18 seasons, including by artificially inflating the club's financial position by more than £900m. City are appealing the verdict. The FRC has greater resources, and greater powers, to apply sanctions if it does find evidence of violations. It routinely oversees accounting standards at bigger institutions such as listed public companies, but not football clubs. The FRC can look into the conduct of BDO, Manchester City's auditors, to ask whether the audit was in line with the rules. It can also apply sanctions to individuals such as directors or employees of the Etihad club, if they are members of professional accountancy bodies. BDO is the UK's fifth-biggest accounting firm, but claims to be a market leader in football, advising more Premier League and Championship clubs than any other firm.”

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   Financial Reporting Council (Wikipedia)

   WikipediaChecked Oct 20, 2026

   “The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland based in London Wall in the City of London, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and Stewardship Codes. The FRC seeks to promote transparency and integrity in business by aiming its work at investors and others who rely on company reports, audits and high-quality risk management. In December 2018, an independent review of the FRC, led by Sir John Kingman, recommended its replacement by a new Audit, Reporting and Governance Authority, a recommendation that the government agreed to follow in March 2019 but later delayed. Ireland adopted the FRC's auditing framework in 2017.”