The U.K.'s Financial Reporting Council has begun an investigation of KPMG Audit PLC's role in fraud and bribery charges levied against BAE Systems PLC (Press Notice). The FRC announced the investigation on October 25, 2010, which stems from BAE System's $400 million dollar fine and guilty plea to charges brought by the U.S. Department of Justice in March and a nearly $50 million dollar fine and guilty plea to charges rendered by the U.K.'s Serious Fraud Office (BAE Plea. Allegations). The FRC has stated that the investigation will focus on KPMG's audits of BAE Systems and any subsidiaries of BAE Systems from 1997 to 2007. The FRC's investigation was initiated after consultations with the Institute of Chartered Accountants in England and Wales.