UK companies are largely meeting new corporate reporting requirements arising from the Financial Reporting Council’s changes in 2018, but need to demonstrate the link between intention and action more explicitly, research by EY has found
The Financial Reporting Council (FRC) has completed its initial report in connection with its extensive investigation into KPMG’s audit of the financial statements of Carillion, the outsourcing company which collapsed in January 2018
The National Audit Office (NAO) is calling on the Treasury to launch a coordinated effort to safeguard access to cash, as Covid-19 has accelerated the move to online transactions, and there is a risk that vulnerable people who rely on paying money will be excluded
The International Auditing and Assurance Standards Board (IAASB) has opened a consultation on fraud and going concern in audits, in response to concerns raised by high-profile corporate failures in recent years
Chartered IIA study raises concerns for corporate governance during coronavirus crisis, and reveals the extent of disruption to internal audit teams, as 46% of internal audit teams have been affected by redeployment during coronavirus lockdown
Deloitte is to set up an independent audit governance structure, becoming the first of the Big Four to respond to demands from the Financial Reporting Council (FRC) for an operational separation of audit from the rest of the firm’s business
An independent inquiry into public sector auditing has recommended a shake-up of the sector, with a new regulatory body to oversee local authority audit and the introduction of a standardised statement of services and costs
As the BEIS select committee’s audit reform review draws to a close, John Wood, chief executive of the Chartered Institute of Internal Auditors, argues that now is the time for the government to deliver on its promise of a powerful regulator
PwC has announced it is not able to accept its proposed appointment as auditor to FTSE 250 company Petropavlovsk, citing governance concerns at the troubled Russian gold mining company
Audit fees at FTSE 100 companies have reached a new high, totalling £911m in 2019, up from £892m the previous year, in response to pressure from regulators for firms and their clients to invest more in core auditing activity
Listed car dealership admits no longer possible to release 2019 financial statements by end of August as scope of audit widens following Grant Thornton investigation into accounts blackhole
This month's exclusive Accountancy Daily CPD module focuses on how accountants and auditors will need to pay close attention to how revenue is treated in the accounts as companies prioritise generating revenue to overcome the pandemic
BDO has been fined £200,000 and sanctioned by the Financial Reporting Council (FRC) for lapses in its auditing of insurer AmTrust Europe Ltd (AEL), which included failing to report its evaluation of independent experts’ assessments
The Financial Reporting Council (FRC) has made two appointments to its executive team, as the regulator continues its transition to a new body, the Audit, Reporting and Governance Authority, with a wider remit and new statutory powers
