As the consultation on the future of audit closes, Peter Manser, head of audit and assurance at Kreston Reeves LLP, argues that managed shared audit needs careful consideration but could open up much-needed competition among audit firms

Chair of the anti-corruption and responsible tax committee, Dame Margaret Hodge has called on the government to introduce legislation that gives more transparency to public contracts awarded to private companies 

The OECD calls on all nations to strengthen their corporate governance framework and policies to help create a well-functioning capital market, to tackle the challenges posed by the covid-19 pandemic, and aid it in its recovery

At Mansion House this morning, Chancellor Rishi Sunak announced his plans to transform the UK into a green finance hub with £15bn investment into environmentally friendly projects

The Brydon report markedly expands the subject of an audit from the financial statements to take in the company itself, its directors and all information the company is required to disclose, but is this really the remit of the auditor, asks David Lineen, director, haysmacintyre

Andrew Collier, director of quality and professional standards at Kreston International, examines how the revisions to the International Standards on Quality Management ISQM 1 will affect accountancy firms and provides tips on effective implementation

Audit Scotland has announced that it will make climate change an audit priority and will use their ‘unique role’ as an auditor of the public sector to help Scotland reach its climate targets

The Supreme Court has given a landmark judgment in favour of Manchester Building Society in a negligence claim against its former auditor, Grant Thornton, leaving the firm facing a multimillion pound bill for compensation

Only four  years since the last audit tender, listed pest control company Rentokil has dropped KPMG as its auditor after 12 years 

Plans to create a tougher audit regulatory body by 2024 would see the number of staff at the new regulator doubling to ensure adequate oversight of the audit market once audit reforms are introduced

Big Four auditor EY has withdrawn from a new audit engagement due to conflict issues after winning the tender for the Biopharma Credit plc audit 

The majority of senior finance professionals in UK-listed businesses want proposed UK audit reforms and the introduction of a UK version of the Sarbanes-Oxley Act (SOX) to be delayed by two years