Brexit, EU, Union Jack, flags

17 November, 2017

Watchdog to review reporting of Brexit risks

The UK's corporate reporting watchdog will be reviewing how Brexit affects the disclosure of "principal risks and uncertainties" in its next thematic reviews. The Financial Reporting Council (FRC) ...
Audit stamp, audit quality, auditor reporting

3 November, 2017

SEC approves enhanced auditor reporting and communication

The US markets regulator has approved new audit rules that will increase the level of information provided by auditors about the work they’ve undertaken. Communication of "critical audit matters"...
Stephen Haddrill, FRC

27 October, 2017

Regulator seeks to hold international audit networks to account

The leadership of global audit networks should be held to account, and work is underway to see how it can be achieved, according to the chief executive of the UK's audit regulator. Currently audit ...
boardroom, best practice standards, corporate governance

25 October, 2017

The guardianship circle: praxis of governance and audit committees

As anyone who has served on a board knows, what happens in practice in company boardrooms can be far different from best practice corporate governance standards, such as those promulgated in the Finan...
James Murdoch, Sky

6 October, 2017

Advisors turn against James Murdoch as Sky chairman

James Murdoch faces investor opposition to his reappointment as chairman of Sky, after a clutch of advisors made it clear they wanted a new face leading the board. Investor advisors PIRC (Pensions ...

5 October, 2017

Investigation into PwC’s client asset reporting at Barclays closes

Accountancy’s watchdog has closed a three-year investigation into Barclays’ auditor PwC, after deciding there was “not a realistic prospect” of winning a tribunal. The Financial Reporting C...
KPMG, audit, Big Four

20 September, 2017

Audit firm KPMG cleared over HBOS audit after 2007 financial crisis

A regulatory investigation has cleared KPMG over its audit of HBOS bank in 2007 as the financial crisis struck City institutions. The Financial Reporting Council (FRC) announced yesterday that its ...
PwC, pricewaterhousecoopers

17 August, 2017

PwC hit by another £5m fine after admitting failures in RSM Tenon audit

A second £5m fine has hit Big Four accounting firm PwC in four months, issued by the Financial Reporting Council (FRC) over its role as auditor of collapsed fellow accountants RSM Tenon. PwC and s...
Mitie, outsourcing

31 July, 2017

Watchdog launches probe of Mitie audits by Deloitte

A financial regulator in the UK has launched a probe into the audit of troubled outsourcing company Mitie. The Financial Reporting Council (FRC) said this morning it would investigate the audits of...