The value of fines issued by the Financial Reporting Council (FRC) to auditors for poor quality audit rose 180% to just under £25m in the last year, up from £8.9m in the previous 12 months

Kate Beeston ACA explains how to achieve reliance on substantive analytical procedures and highlights pitfalls and potential deficiencies in internal controls

In a review of the quality of cash flow auditing, the Financial Reporting Council (FRC) has identified recurring errors in cash flow statements relating to misclassification between operating, investing, and financing activities

As the government consults on a raft of audit reform, Paul Brehony, partner and Kate Gee, senior associate at Signature Litigation consider whether this will result in an anticipated uptick in post-pandemic litigation against auditors

The Financial Reporting Council (FRC) has issued minor amendments to the audit rules for International Standard for Review Engagement (UK) 2410, but is holding back on any significant updates until the government's audit reforms are implemented

As part of the government’s wide ranging reform of the audit market, the Audit, Reporting and Governance Authority (ARGA), which is set to replace the Financial Reporting Council (FRC) in 2023, will have new powers to oversee local government audit

Mid-tier audit firm UHY Hacker Young has received a series of sanctions including a severe reprimand over failures relating to the statutory audit of Inch Kenneth Kajang Rubber plc (IKKR) for the financial year ended 31 December 2016

The Financial Reporting Council (FRC) has imposed sanctions against Haysmacintyre LLP and David Cox, audit engagement partner, in relation to the statutory audit of the financial statements of Associated British Engineering plc for the financial year ended 31 March 2018

After consultations with the Public Interest Oversight Board, the International Auditing and Assurance Standards Board (IAASB) has published a revised detailed work plan for the remainder of 2021, updated due to the impact of the pandemic

FTSE 250 listed high street bakery chain Greggs has announced a change of auditor with the appointment of RSM after decades using Big Four firm KPMG

Welsh accountancy firm, Kilsby Williams, has been appointed to audit national retail chain Poundstretcher, replacing BDO, who resigned last October

The Financial Reporting Council (FRC) has set out its preliminary interpretation of the sanctions regime under the government’s proposed audit reforms and plans to hire new staff to strengthen its director oversight programme