Tag: audit
FRC chief’s comments spark debate over audit market cap
Discussions about the merits of an audit market share cap have intensified after remarks made by Sir Jon Thompson last week.
Campaigners urge FRC to name and shame failing audits
Transparency groups including Greenpeace UK say failing to disclose the audits involved “risks creating a general lack of confidence in all audit opinions”.
Audit committees ‘lose independence’ the longer they serve
Study finds committees in troubled firms have fewer female members, more outside directorships, greater shareholdings and longer tenures.
Audit reform 2021: implications for board oversight of risk management
As UK government proposals increase responsibilities for directors, our latest podcast discusses the impact on internal controls and dividends.
Audit reform consultation set to close as dissenting voices emerge
Lack of ownership reform and plans to extend the definition of “public interest entity” have drawn criticism from prominent figures.
Finance chiefs fear audit reforms will cause increase in costs
Research suggests implementing the government’s proposed internal controls reforms alone could cost between £10m and £20m per company.
Organisational culture is the key to rebuilding trust in audit
Audit firms need to develop an organisational culture that empowers auditors to consistently and courageously do the right thing.
How government proposals aim to rebuild faith in UK audit and auditors
The reforms will place renewed scrutiny on boards, audit committees and their work—and it’s essential that boards review the key issues.
Change in audit committee chairs ‘sees audit fees rise and quality fall’
Study of German companies concludes that the arrival of a new chair negatively influences audit quality and audit pricing.
Auditors on notice to reject ‘expectations gap’ consultation
Advisory body PIRC considers recommending shareholders vote against auditors if they fail to “publicly repudiate” the consultation document.