Tag: audit reform
Why we need audit reform right now
There is an “urgent need” for reform to the audit landscape as well as internal audit, the Chartered IIA argues.
FRC unveils new audit committee standards
Watchdog’s guidance to audit committees aims at expanding choice and addressing competition within the audit market.
Years after Carillion’s collapse, the UK still waits for audit reform
Researchers say inquiry focused on apportioning blame to individuals, rather than investigating the regulatory system.
Auditors press for internal controls law
More than four years after the collapse of Carillion which sparked a call for ‘urgent’ audit reform, the wait continues.
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.
News round-up: this week in governance
FRC’s record audit fines; ‘absolutist’ views on ESG; BlackRock votes for fewer E&S resolutions; climate reporting; narcissistic CEOs.
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.