Rio Tinto

11 September, 2020

Governance week: Rio Tinto, ESG, climate risk, Aussie audit

Fallout for Rio Tinto The equivalent of going nuclear in governance is clearing out a company’s leadership. This week investors managed to detonate a bomb under Rio Tinto when the chief ex...
PwC audit building, London

4 September, 2020

PwC loses top spot in the FTSE 100 audit rankings to KPMG

For those intrigued by the arcane world of audit a small earthquake has just occured. PwC, for some time the UK’s most significant auditor of FTSE 100 companies, has lost its top position. Resear...
financial disclosures during covid pandemic

28 August, 2020

Corporate disclosures and investor relations ‘impaired by Covid-19’

The Covid-19 pandemic and lockdown has posed many challenges for companies, but among the top concerns for audit committees has been corporate disclosures and the relationship with shareholders. Af...
Auditing problems at Wirecard

27 July, 2020

Audit keeps failing—here’s why a fundamental change is needed

A massive shakeup of the UK’s audit industry is on the cards. The Big Four, which audit all of the FTSE 100 and 21 of the FTSE 250, have been told by the accounting regulator
Covid-19, coronavirus, hits markets

21 July, 2020

Covid-19: FRC urges companies to provide ‘more extensive disclosures’

The campaign for companies to fully report the impact of Covid-19 on their performance continues. A report from the Financial Reporting Council (FRC) published this week sees the regulator “remindin...
Magnifying glass on audit documents

14 July, 2020

FRC scrutiny of audit quality reveals “unacceptable” level of issues

There is fresh criticism of auditors this week, as regulators report a third of audits inspected during the past year required a level of improvement that is “unacceptable”. Audit firms have al...
Audit separation

6 July, 2020

FRC issues principles for separation of audit from other services

A landmark in the reform of the UK audit market has been reached with the Big Four firms put on notice that the “operational separation” of audit from other services must take place by the end of ...
BDO

12 June, 2020

BDO client increase sees it overtake KPMG in UK auditor rankings

Change may be under way in the audit market, albeit tentatively. BDO, an audit firm outside the global Big Four, has become the second largest firm by number of listed clients in the UK, overtaking KP...
auditor

22 April, 2020

‘Going concern’ regulation puts firms and auditors under the microscope

"A clean bill of health"—the much sought-after words for billions of people around the world during the coronavirus pandemic. Throughout these unprecedented times, there has been and will continu...
world and magnifying glass, Supreme Audit Institutions

14 April, 2020

Auditing global progress on the UN Sustainable Development Goals

As the Covid-19 pandemic has tragically brought to the fore, most countries face interlinked challenges of entrenched inequalities, uneven access to public goods and insufficient support for those mos...