High street mother and baby retail chain Mothercare has chosen Grant Thornton UK as its new auditor with effect from the 28 March 2020 financial year, ending a 17-year relationship with Deloitte

MPs have lambasted the BBC for ‘fundamental’ project management failures in the redevelopment of the set for its flagship TV series EastEnders, which is set to cost £27m more than budgeted and will be completed five years later than planned

PwC has paid $335m (£253m) to settle claims brought by the Federal Deposit Insurance Corporation (FDIC) relating to professional negligence in the US firm’s auditing of the Colonial Bank, which collapsed in 2009 with an estimated $3bn loss to the deposit insurance fund

In the first in a four-part series, Katharine Bagshaw FCA considers quality management of audits and looks ahead to three new standards due to go out for consultation in 2019

More than one in five local public bodies do not have proper arrangements in place to secure value for money for taxpayers, and some are also not putting enough information in the public domain about their performance, including reports from their external auditors, a public accounts committee (PAC) inquiry has highlighted

The National Audit Office (NAO) is consulting on an update to the code of audit practice for auditors of local public bodies, to be introduced next year

EY has been chosen as external auditor of multinational oil and gas exploration company Tullow Oil, replacing Deloitte which has held the role since 2002

Deloitte is to take over as auditor of FTSE 100 building firm CRH, replacing EY which has held the post since 1988, in win set to bring in fee income of around €20m (£17m)

The Financial Reporting Council (FRC) will be closed and replaced with a new audit regulator following criticism of their effectiveness of the existing organisation following a string of audit scandals at major listed companies

The government is passing substantive legislative changes to Companies Act 2006 (CA 2006) via statutory instrument and has issued guidance letters for accountants and auditors with advice on how to operate cross-border in the event of a no deal Brexit. James Waller CA, technical writer at Croner-i Tax and Accounting, explains the key considerations

Aston Martin has announced the appointment of EY as its auditor, after KPMG declined to reapply for tender less than three months after the company made its debut on the London Stock Exchange

The Financial Reporting Council (FRC) is consulting on plans to revise the International Standard on Auditing (ISA) (UK) 570 Going Concern, which will mean requirements for UK auditors will be significantly stronger than those required by international standards

In this month’s round-up of audit news, FRC extends probe into Carillion audit, no deal Brexit advice for auditors, Vodafone drops PwC in swap to EY, BDO picks up £200k Halfords audit from KPMG

In an update to its investigation into failed outsourcer Carillion, the Financial Reporting Council (FRC) has revealed it has extended the scope of its probe into the preparation, approval and audit of the company’s financial statements to include certain matters relating to the financial statements for the year ended 31 December 2013

The revised international auditing standard, ISA (UK) 540 (Revised) Auditing Accounting Estimates and Related Disclosures, attempts to improve scalability issues and treatment of accounting estimates as more complex forward analysis becomes available for financial reporters. Michelle Roberts CA, specialist audit writer at Croner-i Tax and Accounting, considers the judgment issues for auditors