Rio Tinto

11 September, 2020

Governance week: Rio Tinto, ESG, climate risk, Aussie audit

Fallout for Rio Tinto The equivalent of going nuclear in governance is clearing out a company’s leadership. This week investors managed to detonate a bomb under Rio Tinto when the chief ex...
PwC audit building, London

4 September, 2020

PwC loses top spot in the FTSE 100 audit rankings to KPMG

For those intrigued by the arcane world of audit a small earthquake has just occured. PwC, for some time the UK’s most significant auditor of FTSE 100 companies, has lost its top position. Resear...
Auditing problems at Wirecard

27 July, 2020

Audit keeps failing—here’s why a fundamental change is needed

A massive shakeup of the UK’s audit industry is on the cards. The Big Four, which audit all of the FTSE 100 and 21 of the FTSE 250, have been told by the accounting regulator
Magnifying glass on audit documents

14 July, 2020

FRC scrutiny of audit quality reveals “unacceptable” level of issues

There is fresh criticism of auditors this week, as regulators report a third of audits inspected during the past year required a level of improvement that is “unacceptable”. Audit firms have al...
Audit separation

6 July, 2020

FRC issues principles for separation of audit from other services

A landmark in the reform of the UK audit market has been reached with the Big Four firms put on notice that the “operational separation” of audit from other services must take place by the end of ...
BDO

12 June, 2020

BDO client increase sees it overtake KPMG in UK auditor rankings

Change may be under way in the audit market, albeit tentatively. BDO, an audit firm outside the global Big Four, has become the second largest firm by number of listed clients in the UK, overtaking KP...
shared audits, joint audits

28 January, 2020

UK government could introduce shared audits for large companies

Is the government heading towards introducing shared audits for the UK biggest companies? That’s the suggestion made in The Sunday Times at the weekend. It’s difficult to tell exactly ...
auditor

3 September, 2019

Auditor resignations indicate new attitude to client selection

The audit profession in Britain is at a turning point as Westminster—Brexit permitting—considers new regulation. It seems firms may be responding by clearing the decks: the press has spotted a ...
Goldman Sachs

23 May, 2019

Mazars wins Goldman Sachs audit deal amid debate on market reform

Mazars, the professional services firm, has clinched one of the most significant audit contracts outside the Big Four firms after being appointed auditors of Goldman Sachs in Europe. There is nothi...
Big Four, Deloitte, KPMG, EY, PwC

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...