Tag: Competition and Markets Authority
Big Four continue to dominate audit market
FRC review of audit market competition reveals 98% market share that ‘leaves little room for challengers to emerge’.
UK government backtracks on audit reform
Plans for resilience reporting regulations are scrapped in the volte-face, as is the requirement for an audit and assurance policy.
Audit reform changes will increase ‘pressure’ on boards
Implementing managed shared audit would put a burden on audit committees, a recent panel discussion concluded.
When employees become the competition
How might you be affected by a global move towards the banning of employment contract non-compete clauses?
Greenwashing: are directors ultimately liable?
Directors who pay lip service to climate-related risks may be exposed to breach of duty claims for failing to protect firms’ interests.
UK government could introduce shared audits for large companies
Recent media reports suggest the government is leaning towards shared audits as part of long-awaited market reforms—despite warnings against the move.
Audit committees face public reprimand as part of market reforms
The Competition and Markets Authority says regulators should punish audit committees, impose joint audits and force an “operational separation” of auditors from other parts of their firms .
2018: A year in governance
This past year has been packed with governance events from the launch of new codes, executive pay debates, and leadership behaviour debacles to climate change, cybersecurity scandals and the Khashoggi murder.
Audit committees braced for new relationship with regulators
The Competition and Markets Authority has made its recommendations for changing the audit market. The proposals will also make audit committees answer to regulators.
How do you solve a problem like audit?
Concerns about audit have triggered various investigations into the market’s workings, yet attempts to ‘improve’ audit quality—seem to be failing. So where now for audit reform?