KPMG, audit, Big Four

20 September, 2017

Audit firm KPMG cleared over HBOS audit after 2007 financial crisis

A regulatory investigation has cleared KPMG over its audit of HBOS bank in 2007 as the financial crisis struck City institutions. The Financial Reporting Council (FRC) announced yesterday that its ...
PwC, pricewaterhousecoopers

17 August, 2017

PwC hit by another £5m fine after admitting failures in RSM Tenon audit

A second £5m fine has hit Big Four accounting firm PwC in four months, issued by the Financial Reporting Council (FRC) over its role as auditor of collapsed fellow accountants RSM Tenon. PwC and s...
Mitie, outsourcing

31 July, 2017

Watchdog launches probe of Mitie audits by Deloitte

A financial regulator in the UK has launched a probe into the audit of troubled outsourcing company Mitie. The Financial Reporting Council (FRC) said this morning it would investigate the audits of...
Audit, finance, accounts

28 July, 2017

Audit improves but professional scepticism remains a concern

Audit quality in the UK has improved again, but the audit watchdog remains concerned about professional scepticism across audit firms. The Financial Reporting Council (FRC) has published its second...
Halfords

17 July, 2017

Halfords faces opposition to reappointment of auditor

Halfords, the car carts and bicycle retailer, faces opposition to the reappointment of Big Four firm KPMG as auditor over concerns about independence.
Audit stamp, audit quality

15 June, 2017

Audit quality improves among FTSE350, says watchdog

The quality of audits of FTSE350 companies in the UK is improving, according to the latest reviews undertaken by audit watchdog the Financial Reporting Council (FRC). An examination of audits under...

25 April, 2017

Grant Thornton fined £2.3m over audit of firefighting company

Audit firm Grant Thornton has been fined £2.3m over the audit of AIM-listed firefighting company AssetCo. Robert Napper, the Grant Thornton (GT) partner in charge of the audit and now retired, wa...

15 February, 2017

Watchdog to review audit firm governance and culture

Not all auditors are "demonstrably" serving investors' "best interests", according to a new report from the UK governance watchdog. The Financial Reporting Council (FRC), which also oversees audit,...
Audit tendering

8 February, 2017

Investors reveal concern over audit tender exclusions

Auditors should not be excluded from tendering for an audit if they already provide other professional services. The view comes in a new report from the Financial Reporting Council (FRC), which ha...

30 January, 2017

Audit committee chairs remain concerned by lack of audit choice

Audit committee chairs see a lack of choice among audit firms as a "major" issue still be addressed, according to research for