For more than two decades, Sidley has been at the forefront of cross-border matters and protecting the reputations and livelihoods of clients in the accounting and auditing professions. Our lawyers have significant experience involving accounting firms in UK litigation and regulatory investigations, as well as representing the coordinating entities for both UK and U.S. firms.
With the UK government aiming to reform the country’s audit sector and the Financial Reporting Council (FRC) folding into the Audit, Reporting and Governance Authority, Sidley’s team is able to draw on our vast experience to help clients navigate this changing regulatory landscape.
To serve such clients in today’s complex and highly regulated environment, our lawyers have the knowledge and skills to address the full range of challenges facing UK accounting firms performing audits and other services, including:
- The scope of regulatory scrutiny encompassed by the FRC
- The wide-ranging claims asserted in civil litigation, including involving professional liability
- The increasingly complex implications of international and cross-border engagements, including services for U.S. issuers
We have also had significant involvement regarding issues presented by the interplay between UK and U.S. legal requirements and can assist and counsel UK firms in understanding and navigating the scope, breadth, and limitations of U.S. regulators and courts.