Carillion

16 May, 2018

MPs call on competition regulator to review audit market post-Carillion

Auditors are under renewed pressure for change following a scathing report from a committee of MPs calling for the UK government to refer the Big Four firms to competition regulators. The call come...
Audit stamp, audit quality, auditor reporting

10 May, 2018

‘Professional scepticism’ must be further embedded into audit firms’ culture

Greater consideration must be made by auditors into embedding a culture where integrity and professional scepticism are fundamental to their work, according to a new report by accounting watchdog the ...
FRC, audit

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

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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, FRC

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...