The Big Four firm is set to limit pay and bonus hikes, and even implement potential freezes, for around 25,000 staff members in the UK as a result of 'challenging market conditions'
MPs questioned Section 151 Officers about the current backlog of unaudited local government accounts and whether some radical changes were needed to address it
MPs on the Public Accounts Committee (PAC) have called on the government to act ‘urgently’ to prevent further financial failures in local audit as unacceptable backlog grows
MPs questioned the head of the National Audit Office (NAO) and other audit specialists on the huge backlog of unaudited local government accounts and what should be done to address it
The FRC has released an amended version of the International Standard on Auditing (UK) 505 - External Confirmations, including guidance on use of digital platforms to verify information
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
MPs called on local audit specialists and the regulator to take swift action to address the backlog in overdue local government audits and improve transparency of accounts