The palace’s annual income, outside government funding, fell to £9.4m from £20.2m last year and the 53% loss was caused by the effects of the covid-19 pandemic according to the Crown Estate annual reports

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

Solution 30 published its 2020 annual report and accounts without a sign-off from its auditor EY with the Big Four audit firm saying that the reports lacked the necessary information from the company

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

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

Calls for a rule shake up for auditors after a major review by the Institute for Public Policy Research (IPPR) found multiple problematic practices that severely ‘undermine’ the sector

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

Michelle Roberts ACA, audit writer at Croner-i and Ian Connon MA FCA, BDO LLP, examine two of the biggest changes to audit reports for 2020 year ends resulting from the latest revisions to ISA (UK) 700 Forming an Opinion and Reporting on Financial Statements and ISA (UK) 570 Going Concern

The UK, US and German divisions of mid tier auditor BDO have won the largest ever international audit client for the global firm, replacing KPMG 

The Financial Reporting Council (FRC) has commenced an investigation into the audits by Deloitte LLP of the financial statements of national car dealership Lookers plc for the years ended 31 December 2017 and 2018

The Financial Reporting Council (FRC) has agreed a Memorandum of Understanding on Reciprocal Arrangements (MOURA) with IAASA, the Republic of Ireland (ROI) competent authority, minimising disruption to cross-border audits