18 April, 2019
Audit committees face public reprimand as part of market reforms
Audit committees should face public reprimand by regulators if they fail to provide adequate scrutiny of their auditors, according to recommendations from the UK’s competition authority. The prop...
24 December, 2018
2018: A year in governance
Senior officials at the Financial Reporting Council (FRC) may believe Scrooge has stepped off the pages of A Christmas Carol. In his recent oh-so-close-to-festivities report, Sir John Kingman...
15 October, 2018
How do you solve a problem like audit?
Can a problem like audit be solved? Others have tried before—and others are set to try again. There have been multiple, consistent concerns about the audit process, governance and even its ra...
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...
10 July, 2018
Big Four accountants accused of EU tax policy ‘conflict’
A lobby group has called for the Big Four accountancy firms to be "kicked out" of the policy-forming process in Europe. Corporate Europe Observatory (CEO), a Brussels-based group whose aim is to ...
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...
2 July, 2018
KPMG chief concedes that public trust in audit is waning
The head of KPMG in the UK has admitted that the Big Four audit firms are losing public trust and that change will be needed. However,
25 June, 2018
Audit industry to face fresh “root and branch” review by UK government
The UK government is to undertake a review of the audit industry, asking whether the current model for audit is fit for purpose. However, The Times reports this morning that the government...
19 June, 2018
Watchdog spotlights KPMG for ‘deterioration’ in audit quality
KPMG, the auditor under investigation for its work on the collapsed construction giant Carillion, has been told by the UK's audit watchdog that half its FTSE 350 audits last year required "more than j...
18 May, 2018
