FRC Investigation into Accountants' Conduct re Vistry Group Plc

FRC News

Filed March 10th, 2026

Detected March 10th, 2026

Summary

The UK's Financial Reporting Council (FRC) has opened an investigation into the conduct of two individual accountants concerning the financial reporting of Vistry Group Plc's South Division for the 2023 and 2024 financial years. The investigation is being conducted under the Accountancy Scheme.

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What changed

The Financial Reporting Council (FRC) has initiated a formal investigation into the conduct of two unnamed accountants regarding the forecasting and financial reporting practices within the South Division of Vistry Group Plc for the financial years ending December 31, 2023, and December 31, 2024. This investigation, commenced following a meeting of the FRC's Conduct Committee on October 21, 2025, is being managed by the FRC's Executive Counsel and operates under the Accountancy Scheme, which covers members of various UK professional accounting bodies.

While the opening of an investigation does not imply any findings of misconduct, it signifies a substantive regulatory action by the FRC. Compliance officers should note that the FRC's investigation is specifically targeted at the two individuals and does not currently extend to Vistry Group Plc or any other entities. No specific compliance deadline or penalty information is provided in this announcement, but regulated entities within the accounting profession should be aware of the FRC's oversight and enforcement capabilities.

What to do next

Review FRC's Accountancy Scheme for relevant obligations.
Monitor FRC investigation updates regarding Vistry Group Plc.

Source document (simplified)

Investigation regarding the conduct of two individual accountants in relation to Vistry Group Plc

News types: Investigations

Published: 10 March 2026

This press notice concerns the opening of an investigation into the relevant individuals. The investigation does not relate to any persons or entities other than the relevant individuals and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities. The opening of an investigation does not indicate that the FRC has made, or will make, any findings of Misconduct [1] by the relevant individuals.

The Financial Reporting Council (“FRC”) has commenced an investigation under the Accountancy Scheme [2] into the conduct of two individual accountants in relation to the forecasting and financial reporting of the business within the South Division of Vistry Group plc for the financial years ended 31 December 2023 and 31 December 2024.

The decision was made at a meeting of the FRC’s Conduct Committee on 21 October 2025.

The investigation will be conducted by the FRC’s Executive Counsel.

Footnotes

[1] Defined terms used in this notice have the meanings given to them in the FRC’s Accountancy Scheme or the Accountancy Regulations unless otherwise stated.
[2] The Accountancy Scheme covers Members and Member Firms of the following professional bodies for accountants: Institute of Chartered Accountants in England and Wales (ICAEW), Chartered Institute of Management Accountants (CIMA), Chartered Institute of Public Finance and Accountancy (CIPFA), Institute of Chartered Accountants in Ireland (ICAI), Association of Chartered Certified Accountants (ACCA), and Institute of Chartered Accountants of Scotland (ICAS).  Further information about the Accountancy Scheme can be found at https://www.frc.org.uk/library/enforcement/accountancy-scheme/