UK parliament, governance reform

16 October, 2019

Sir John Kingman warns government over unfinished FRC reforms

The author of a report recommending extensive reform of the UK’s financial reporting and audit watchdog is unhappy with its progress. Indeed, Sir John Kingman, the chair of Legal & General,
auditor

3 September, 2019

Auditor resignations indicate new attitude to client selection

The audit profession in Britain is at a turning point as Westminster—Brexit permitting—considers new regulation. It seems firms may be responding by clearing the decks: the press has spotted a ...
auditor

31 July, 2019

Fines almost triple as regulators get tough with auditors

Auditors are facing a much tougher environment when their work goes wrong. Figures released by the Financial Reporting Counc...
audit, audit ethics

16 July, 2019

Financial watchdog moves to strengthen audit ethics

Given the frequency of trouble facing auditors in recent years, there was bound to be a reaction. While the government continues to wrestle with reforming the audit market and audit regulation, the cu...
Stephen Haddrill, FRC

28 May, 2019

FRC reveals increased budget as it prepares for transition

The Financial Reporting Council (FRC) is set to increase its workload and budget, monitoring audits as well as compliance with the UK corporate governance code, before its transition to a new regulato...
Goldman Sachs

23 May, 2019

Mazars wins Goldman Sachs audit deal amid debate on market reform

Mazars, the professional services firm, has clinched one of the most significant audit contracts outside the Big Four firms after being appointed auditors of Goldman Sachs in Europe. There is nothi...
UK parliament, governance reform

25 April, 2019

Audit committees: increased scrutiny is the only certainty

There is a very good chance that life is about to get much tougher for audit committee members. While in the past those serving on the board committees that supervise auditors may have undertaken thei...
Big Four, Deloitte, KPMG, EY, PwC

15 October, 2018

How do you solve a problem like audit?

Can a problem like audit be solved? Others have tried before—and others are set to try again. There have been multiple, consistent concerns about the audit process, governance and even its ra...
audit, audit reform

11 October, 2018

Audit reform: which way now?

In 2016 Mervyn King, my South African countryman and colleague who is internationally renowned for his work in the sphere of corporate governance, asked me to write a book with him on th...
KPMG, Big Four

25 June, 2018

Audit industry to face fresh “root and branch” review by UK government

The UK government is to undertake a review of the audit industry, asking whether the current model for audit is fit for purpose. However, The Times reports this morning that the government...