The quality of guidance on audit sampling needs to be improved and firms must make more use of audit data analytics to improve professional judgment by auditors
EY auditors told MPs they robustly challenged Wilko management on financial forecasts before signing off the annual accounts in the run-up to the retailer’s collapse
Health care provider NMC Health plc has been censured by the Financial Conduct Authority for producing dual sets of accounting records to hide debt liabilities before it collapsed
A Canadian audit regulator has fined Deloitte C$1.59m after partners and audit staff tampered with time and date settings on computers to change hundreds of audit signoffs
The government is facing growing calls from MPs and Lords to include the delayed Audit Reform Bill in the King’s Speech next week to improve audit quality
Big Four audit firm KPMG has been fined a record £21,420,000 for ‘exceptional’ and ‘seriously deficient’ audit work related to collapsed outsourcer Carillion as KPMG boss admits findings are 'damning'
The long-awaited overhaul of the audit market will not be included in the next legislative cycle as it is not a political priority despite the urgency for reform, warns Paul Brehony, partner at Signature Litigation
The Financial Reporting Council has revised ISA (UK) 505 External Confirmations auditing standard to make it clear how to verify external information, including digital sources, for audit evidence
