Tag: audit
Audit and assurance policies: innovative ideas for change
Trusted corporate information is vital as firms and stakeholders assess the impact of both climate change and Covid-19 on business strategies.
Audit white paper proposes new powers for regulator to sanction directors
Observers warn that proposals to increase the accountability of directors for audit and internal controls could deter candidates.
KPMG appoints Bina Mehta as temporary chair
UK board member Mehta replaces Bill Michael who resigned last week after making controversial comments to staff.
Reforms impose new responsibilities on directors for financial reporting
Government recommendations on audit reform, set to be published next week, will hold directors responsible for failures in financial reporting.
Foreign audit committee members linked to low-quality financial reporting
Swedish research concludes that appointing foreign directors to an audit committee can undermine the quality of financial reporting.
Top stories of 2020: climate, coronavirus and stakeholder capitalism
While the Covid-19 pandemic dominated the 2020 news agenda, it also put a host of other corporate governance issues in the spotlight.
Evidence builds for introduction of new audit committee standards
Financial Reporting Council says new report “lends weight to proposals for reforms in the audit sector”, including new standards for committees.
Audit fees increase when foreign investors become majority owners
European study finds that audit fees are 10.5% higher where the largest owner is foreign rather than domestic.
BDO now biggest auditor in the UK by number of listed clients
‘Challenger’ firm BDO now has 310 audit clients across the AIM and the FTSE main market, to Big Four leader PwC’s 307.
ICAEW report reveals a quarter of non-PIE audits require improvement
Problems cited include “insufficient scepticism and challenge of management”, poor documentation and failure to test management forecasts.