The National Audit Office (NAO) has criticised the Ministry of Defence (MoD) for poor financial management of three critical infrastructure projects on its nuclear-regulated sites

 A year on from the high profile corporate collapses of Carillion and Patisserie Valerie, the Chartered Institute of Internal Auditors (IIA) has issued an updated version of its voluntary code of practice for internal auditors

The largest companies in the UK need to improve their standards of governance and focus on improving corporate culture rather than taking a box ticking approach to compliance, warns the Financial Reporting Council (FRC)

In this month’s audit updates, Grant Thornton given £650,000 audit fine at unnamed company, FRC bans majority of non-audit services and audit investment drives down KPMG partner pay

The US Securities and Exchange Commission (SEC) is planning to update and strengthen certain aspects of the auditor independence framework

The International Auditing and Assurance Standards Board (IAASB) has released the revised ISA 315 to tighten up the audit requirements for material misstatements in the event or fraud or error

The Chartered Institute of Public Finance and Accountancy (CIPFA) has criticised the oversight of public sector audit, saying that since the abolition of the Audit Commission, quality has deteriorated 

The Financial Reporting Council (FRC) has widened its investigation into EY’s auditing of collapsed travel firm Thomas Cook Group to bring in 2017 financial statements

The Financial Reporting Council (FRC) has issued a major revision of the ethical standard for auditors banning them from providing most non-audit services to listed company clients to reduce conflicts of interest

The Financial Reporting Council (FRC) has set out plans to review the impact of the latest lease accounting and revenue recognition IFRS standards as part of its 2020/21 thematic reviews

Auditors must apply professional scepticism, but regulators frequently criticise them for failing to provide necessary evidence. In the first of a two-part series, Michelle Roberts ACA, Croner-i, hones in on the priorities for the profession

After a difficult 12 months, KPMG UK saw revenues increase by 3% from £2.34bn to £2.4bn, as the firm went through a comprehensive overhaul of its audit practice in the wake of harsh criticism from the audit regulator

The Securities and Exchange Commission (SEC) has charged brand-management company Iconix Brand Group and three of its former top executives with fraud, after an investigation found they had manipulated the company’s earnings

Grant Thornton has been fined £650,000 by the Financial Reporting Council (FRC), reduced for cooperation, over failures in the 2016 audit of an unnamed publicly listed company, which included inadequate sampling, a lack of professional scepticism and insufficient documentation

As the collapse of Carillion and Thomas Cook have shown, auditing goodwill and impairments can represent insurmountable problems for auditors, so maximum write-off periods for these intangibles could be the only solution, argues Emile Woolf