Tag: ARGA
FRC publishes PIE auditor registration regulations
The FRC has a new registration regime for statutory auditors—firms or individuals—of public interest entities (PIEs).
FRC publishes its annual enforcement review
The watchdog issued £46.5m in financial sanctions, with a recurring theme in investigations being a ‘lack of scepticism’ from auditors.
Governance code reforms will ramp up internal controls
Watchdog ‘lays groundwork for the creation of ARGA’ with planned consultation on audit committee ‘minimum standards’.
Government publishes response to audit reform proposals
While directors will face sanctions for inadequate company reporting and audit committee duties, other key reforms have been watered down.
Queen’s Speech fails to provide clarity on audit reform plans
While the creation of ARGA is confirmed, details about other proposed changes are scant and uncertainty over timing remains.
Jan du Plessis gives first insights into FRC governance and audit reform
The prospective FRC chair acknowledged that the watchdog’s own governance needs reform, and that audit scandals have damaged its reputation.
The regulator’s dilemma: finding a balance between trust and compliance
Organisations of all types can be divided on their mission, vision and strategy. A combination of compliance and stewardship is the solution.
Finance chiefs fear audit reforms will cause increase in costs
Research suggests implementing the government’s proposed internal controls reforms alone could cost between £10m and £20m per company.
New UK regulator should be freed to focus on audit
There are fears that the Audit, Reporting and Governance Authority (ARGA) will foster a formulaic and legalistic interpretation of the UK Corporate Governance Code.
Government to push ahead with new audit and governance watchdog
The government has launched a consultation on creating a new governance and audit watchdog with more powers, to replace the Financial Reporting Council (FRC).