Corporate reporting

Corporate governance

Audit | ESG reporting can be too ‘nebulous’

Audit committee chairs have little influence over the quality of ESG reporting at their companies, while they criticised how many disparate issues were shoehorned into the catch-all phrase

20 Jun 2023

Corporate governance

Audit | FRC publishes minimum standards for audit committees

The Financial Reporting Council (FRC) has issued the minimum standards of conduct for audit committees within the FTSE 350 to help contribute to a more robust audit market

22 May 2023

Audit | PwC resigns as Evergrande auditor

PwC has resigned as auditor at Chinese property conglomerate Evergrande amid audit disputes related to the company’s 2021 financial accounts

17 Jan 2023

Audit | EY names leaders of separate audit and consulting firms

Following the announcement of plans to split into two separate firms, EY has named the global chair and CEO for the audit and consulting businesses

15 Dec 2022

Audit | FRC publishes review of audit practice

Auditor reports have become too long and contain too much standardised and boilerplate disclosures

17 Aug 2022

Audit | EY launches virtual internal auditor tool

EY has made a move into tech tools with the launch of EY Virtual Internal Auditor (VIA), a digital platform which provides an overview of an organisation’s risks across their audit processes

18 Jul 2022

Audit | FRC set to overhaul Corporate Governance Code

The Financial Reporting Council (FRC) plans to overhaul the Corporate Governance Code, introduce fraud reporting duties for directors and update the ethics standard for auditors

12 Jul 2022

Audit | Gupta owned steel businesses face audit probe

The Financial Reporting Council (FRC) has opened an investigation into the audits of four companies in the GFG Alliance group by King & King

4 May 2022

Audit | Internal audit body slates lack of progress on audit reform

The delay to the publication of a timetable for audit reform has forced the Chartered Institute of Internal Auditors to write to the Prime Minister calling for urgent action

15 Mar 2022

Audit | FRC consults on changes to public sector audit partners

The Financial Reporting Council (FRC) is consulting on proposals to extend access to key audit partners working in local audit, changing the rules of entry, to increase competition

2 Mar 2022

Audit | ESG reporting for EU trading businesses from 2023

The EU is to impose mandatory sustainability reporting for large companies under its Corporate Sustainability Reporting Directive (CSRD)

24 Feb 2022

Audit | FRC launches audit probe into Liberty Commodities

The Financial Reporting Council (FRC) has launched an investigation into HW Fisher's audit of Liberty Commodities which is part of metal tycoons Sanjeev Gupta’s GFG Alliance

10 Feb 2022

Audit | KPMG sued for £1.3bn over Carillion audit

KPMG is being sued for £1.3bn by the Official Receiver over its role as auditor to collapsed contractor Carillion

4 Feb 2022

Audit | MPs slam late audit problem in local authorities

The Public Accounts Committee is warning that local government funding is creating a ‘real risk’ due to a lack of funding that will only ‘allow local government to stand still’ while its failure to complete audits on time is making the situation worse

3 Feb 2022

Corporate governance

Audit | Key issues for 2021 year-end audits

Kate Beeston ACA and Helen MacNeill FCA set out the key issues for 2021 year-end audits, which includes the continued impact of Covid-19, accounting estimates and future audit developments, including ISQM (UK) 1

19 Jan 2022