Audit / Woolf: cashing in on complexity

Emile Woolf FCA asks why global accounting standards, in particular IFRS 9 Financial Instruments, are becoming increasingly complicated and starting to resemble the language used in quantum physics

Audit / Woolf: audit standards overload with IFRS 16 Leases

The onslaught of complex IFRS standards,particularly the IFRS 16 Leases overhaul and IFRS 7 requirements, pushes disclosure to the extreme, but for what purpose, asks Emile Woolf FCA

Audit / Woolf: boardroom pay escalates as governance suffers

Excessive director pay is a scourge across big business and it needs to be curbed, says Emile Woolf FCA, former forensic accountant and audit committee chair

Accounting / Stallabrass: post-Brexit accounting standards from UK GAAP to IFRS

Matthew Stallabrass, partner in the corporate team at Crowe Clark Whitehill, considers how Brexit may affect the future use of key accounting standards in the UK from FRS 102 - new UK GAAP - to International Financial Reporting Standards (IFRS) 

Audit / Woolf: arcane accounting rules encourage poor governance

Unchecked by strong regulation and government, ignorance and greed can become widespread while questionable and opaque accounting rules obfuscate the quality of reporting and auditors miss key issues, warns Emile Woolf FCA

Audit / Woolf: monetary sanctions useless in isolation

Monetary punishments for the misdemeanours of banks must be supported by meaningful changes to the audit oversight and corporate governance, says Emile Woolf FCA

Audit / Woolf: revenue recognition rule change tortuous

A handover of powers to professional accounting institutes has exacerbated a lack of accountability while changes to revenue recognition rules simply make accounting more complicated, warns Emile Woolf FCA

Audit / Woolf: shadow of 2008 still looms over auditors

As defined benefit pension schemes enter negative territory, Emile Woolf FCA calls for an overhaul of pension fund audits in a bid to improve levels of governance and oversight

Audit / Woolf: leasing rules create unnecessary change

Emile Woolf FCA expresses his frustration at the accounting and audit standard settors over the unecessary changes made by the latest leasing rules

Audit / Woolf: BHS audit questions raise oversight concerns

Between the BHS scandal and further Brexit fallout, Emile Woolf FCA is struggling to recognise the profession he grew up in, although Enron was just one scandal which rocked the auditors and regulators in the not so recent past

Audit / Woolf: clamping down on share of non-audit services

As new audit regulations take effect with the introduction of the EU Audit Regulations and Directive (ARD) into UK legislation, Emile Woolf FCA emphasises the need for renewed rigour in governance and auditor oversight

Audit / Woolf: the end of audit sinecures as EU Audit Regulation approaches

Tough audit rotation rules under the EU Audit Regulation and Directive (ARD) will change the landscape of audit and should increase probity, says Emile Woolf FCA, as new rules come into force this June

Insight / Woolf: excessive executive pay and share buybacks

Excessive executive pay and share buybacks creates a worrying lack of corporate scrutiny, says Emile Woolf FCA

Audit / Woolf: never too big to jail

The easy option is rarely the right one when it comes to signing off the audit report, warns Emile Woolf FCA, but the lessons of past audit scandals rarely seem to change behaviour

Audit / Woolf: avoiding past follies... like the credit crunch

As the global economy falters, Emile Woolf FCA asks why those tasked with predicting the future always fall short and considers why bank auditors are still wriggling under the scrutiny of regulators