AIM listed Revolution Beauty Group plc, the multi-channel beauty retailer, has called in forensic accountants after BDO refused to sign off FY22 year end audit
John Selwood ACA looks at the revised requirements of ISA (UK) 240 effective later this year and the auditor’s responsibilities in relation to fraud in an audit
The UK’s accounting watchdog fined PwC nearly £1.8m over claims it failed to challenge BT accounts following the discovery of a half-a-billion pound fraud within the telecommunications firm
The Financial Reporting Council (FRC) has issued a record £46.5m in financial sanctions against audit firms for misconduct and breaches of standards in auditing in the last year
Grant Thornton may have pulled out of tendering for new listed audits but the latest audit quality inspection cycle reviewed five contracts, with none requiring significant improvements
Deloitte has shown improvement across the board in the annual audit quality inspection (AQI) cycle, but still needs to focus on improving the quality of group audits and closer adherence to the Ethical Standard
A third of EY audits required improvements in the latest FRC audit quality inspections, with revenue recognition, management challenge and need for more staff coaching flagged as issues of concern
After years of criticism of audit quality, KPMG is turning around its audit practice with the majority of audits meeting FRC standards and none requiring significant improvement in this year's AQI
Big Four firm PwC has addressed a number of audit issues over the past year and has improved the quality of audit work with none requiring significant improvement in annual audit inspections
Mazars has been heavily criticised over the quality of its audit work in the latest round of audit inspections by the Financial Reporting Council (FRC) with no progress on last year
A third of BDO audits inspected by Financial Reporting Council inspectors needed significant improvements with revenue recognition and challenge of management flagged as key problem areas
