The UK's Financial Reporting Council (FRC) is currently inquiring into potential accounting irregularities at Manchester City, having taken over the case from the Institute of Chartered Accountants. Although no formal investigation has commenced, the FRC's focus includes the conduct of the club's auditors, BDO, amid allegations of financial misconduct involving over £900 million.
This scrutiny follows an independent commission's ruling that Manchester City breached Premier League financial regulations between 2009 and 2018. The club is appealing this verdict, while calls for enhanced regulatory powers to ensure accountability in similar cases have been made by lawmakers.
Watch for the FRC's next steps as they assess BDO's auditing practices and the implications for Manchester City's appeal. The outcome could reshape regulatory frameworks in football finance, prompting lawmakers to push for stronger accountability measures.