FRC

17 April, 2018

‘Root and branch’ review of FRC launched by government

A “root and branch review” of the UK’s accounting and finance regulator is to be led by former Treasury head Sir John Kingman. The Financial Reporting Council (FRC) will have its governance, ...
City of London, audit

11 April, 2018

Watchdog to step up monitoring of largest audit firms

A watchdog is to step up its monitoring of the UK's six biggest audit firms, in particular their leadership arrangements. The Financial Reporting Council (FRC) said that among a collection of five ...

9 April, 2018

Big Four auditors could face £10m fines under new sanctions

[caption id="attachment_7657" align="alignleft" width="300"]
Big Four, PwC, Deloitte, EY, KPMG

1 April, 2018

Grant Thornton’s decision throws a cloud over audit market

After a huge effort to reform the audit market with European Union legislation, it now appears that auditors and audit in the UK seem to be struck by profound uncertainty all over again. A successi...
Carillion

20 March, 2018

Former FDs at Carillion face probe over financial statements

Two finance directors are to be investigated for their conduct in preparation of financial statements at the collapsed construction giant Carillion. Zafar Khan and Richard Adams, both former group ...
Big Four, PwC, Deloitte, EY, KPMG

16 March, 2018

Regulator seeks audit market probe into Big Four domination

One of the UK's senior governance regulators has held meetings with a view to launching an inquiry that would examine whether the Big Four accounting firms should be broken up to create audit-only pro...
Carillion

30 January, 2018

ISS advocates AGM vote abstention for ex-Carillion audit chair Andrew Dougal

Former Carillion audit committee chair Andrew Dougal is to face an uncomfortable time in his role as a board member at Victrex, with votes likely to be made against his reappointment in the role. G...
Carillion

29 January, 2018

Watchdog to probe KPMG over its audit of Carillion

The UK's audit watchdog is to investigate Big Four audit firm KPMG for its work on the collapsed services and construction giant Carillion. The Financial Reporting Council (FRC) announced this morn...
Carillion

26 January, 2018

MPs to investigate Carillion auditors and board over ‘disaster in the making’

MPs investigating Carillion's liquidation have asked the big four audit firms to reveal their working links with the collapsed services giant Carillion. According to Sky News, audit firms PwC, KPMG...
boardroom, governance

12 December, 2017

‘Communication gap’ found between audit committee chairs and auditors

A "communication gap" between audit committee chairs and auditors over the level of materiality applied during an audit is occurring in a significant number of companies, according to a thematic revie...