Tag: audit
Audit reform: which way now?
Audit firms may have hit the headlines because of their connection to failed companies, but a new book argues that they face more fundamental problems, which may affect their very survival.
Ten mistakes boards can avoid on human rights
One of the most frequent mistakes boards make is failing to recognise the seriousness of human rights risks—but it isn’t the only hazard. Here are ten mistakes boards can avoid.
Audit woes and reform wrangles
A fierce debate is underway over the future of audit. Could it be resolved with an independent body appointing company auditors?
KPMG conflict of interest with Ted Baker results in £3m FRC fine
KPMG conflict of interest while undertaking Ted Baker audit sees it hit with a £3m fine, reduced to £2.1m after settling.
PwC heavily criticised for ‘failed’ audit of BHS
A report from the Financial Reporting Council delivers scathing criticism of PwC’s audit of collapsed retail chain BHS and the partner who headed the work.
IoD calls for independent commission to take governance from FRC
The Institute of Directors has called for the supervision of UK governance to be removed from the Financial Reporting Council and placed with a new independent commission.
Competition regulator asks Big Four to look for ways to change audit market
Reports suggest that the Competition and Markets Authority has already met with Big Four leaders to discuss audit market change.
PwC to pay $625.3m damages over collapsed US bank
The damages follow a ruling that PwC failed to design an audit to detect fraud at Alabama Colonial Bank.
KPMG under further scrutiny over audit of booze business
Big Four audit firm faces yet another investigation of its work, this time over the collapse of wine business Conviviality.
Deloitte investigated over SIG audit
The FRC is to investigate Deloitte’s audit of buildings and materials firm SIG, conducted in 2015 and 2016.