The Financial Reporting Council (FRC) has hit a legal stumbling block in its efforts to require Sports Direct to provide legally privileged documents as part of its probe into Grant Thornton’s auditing of the retailer’s 2016 accounts
The Financial Reporting Council (FRC) has contacted the Big Four firms to ask what contingency plans they have in place to handle audits for clients with offices in China, while ACCA postpones March exams in China
The Trump administration has indicated it plans to abolish the Public Company Accounting Oversight Board (PCAOB), the US audit regulator, and roll its functions into the Securities and Exchange Commission (SEC) in its budget blueprint, although immediate action is unlikely
The International Ethics Standards Board for Accountants (IESBA) is consulting on limited scope revisions to the international code of ethics for professional accountants, to clarify issues relating to an engagement quality reviewer’s objectivity
The number of auditors resigning from audits is up 21% in a year, as the Financial Reporting Council (FRC) puts firms under pressure to stop using audit as a loss-leader to get higher margin tax and consulting work
In this month’s audit updates, Mazars wins AIG UK audit, Carillion audit probe delayed, global audit ethics overhauled, corporate governance tick box approach slammed, and independence call for local audit oversight.
In the second part of a two-part series, Croner-i senior technical writer Michelle Roberts ACA looks at how auditors can avoid criticism for failing to provide evidence of professional scepticism by ensuring all discussion, challenges and judgments are documented
The International Ethics Standards Board for Accountants (IESBA) is consulting on significant revisions to the ethics code relating to provision of non-assurance services and fees to client companies in a bid to strengthen auditor independence