KPMG, Big Four

21 August, 2018

KPMG conflict of interest with Ted Baker results in £3m FRC fine

Accountancy’s regulator has fined KPMG and partner Michael Barradell after they admitted misconduct in relation to the audits of fashion retailer Ted Baker in 2013 and 2014. The Financial Reporti...
PwC

15 August, 2018

PwC heavily criticised for ‘failed’ audit of BHS

PwC's audit of collapsed high-street department store BHS included failings in ethical standards, according to a stinging report from regulators. The report also revealed that Steven Denison, the e...
Institute of Directors, IoD

7 August, 2018

IoD calls for independent commission to take governance from FRC

One of the UK's leading business groups has called for a new commission to supervise corporate governance, separating the task from the existing watchdog, the Financial Reporting Council (FRC). The...
Big Four, Deloitte, KPMG, EY, PwC

9 July, 2018

Competition regulator asks Big Four to look for ways to change audit market

Reports suggest this morning that the Big Four audit firms have been asked to investigate ways of increasing the choice of auditors for companies listed in the UK. There has been pressure on the UK...
PwC, pricewaterhousecoopers

3 July, 2018

PwC to pay $625.3m damages over collapsed US bank

PwC has been ordered by a US court to pay damages of $625.3m (£474.6m) over the audit of a collapsed bank. According to the
KPMG, audit, Big Four

3 July, 2018

KPMG under further scrutiny over audit of booze business

KPMG, the Big Four audit firm, is to face yet another investigation after regulators announced they would probe its work at open-all-hours wine chain Conviviality. The Financial Reporting Council (...
Deloitte, Big Four, audit

29 June, 2018

Deloitte investigated over SIG audit

Deloitte, the Big Four audit firm, is to have its audit of SIG, the building and materials supplier, investigated by a UK watchdog. The Financial Reporting Counci is to examine the audit of the FTS...
FRC, audit

4 June, 2018

More powers for FRC receives scant support from company secretaries

Fewer than one-third of company secretaries want the UK's corporate governance watchdog to have more enforcement powers, a survey has found. The poll, carried out by ICSA: The Governance Institute ...
Big Four, PwC, Deloitte, EY, KPMG

18 May, 2018

The audit market concentration ratchet strengthens case for reform

Every few years significant concerns are expressed about the market for external audit services, which is dominated by the Big Four firms. Typically, these concerns are triggered by a corporate collap...
Big Four, PwC, Deloitte, EY, KPMG

17 May, 2018

Big Four auditors ‘prepared’ if regulators push for split

The UK’s largest accounting firms are preparing themselves for a potential breakup of their offerings. After two influential committees of MPs