Tag: Big Four
2018: A year in governance
This past year has been packed with governance events from the launch of new codes, executive pay debates, and leadership behaviour debacles to climate change, cybersecurity scandals and the Khashoggi murder.
How do you solve a problem like audit?
Concerns about audit have triggered various investigations into the market’s workings, yet attempts to ‘improve’ audit quality—seem to be failing. So where now for audit reform?
IoD calls for independent commission to take governance from FRC
The Institute of Directors has called for the supervision of UK governance to be removed from the Financial Reporting Council and placed with a new independent commission.
Big Four accountants accused of EU tax policy ‘conflict’
The Big Four accountancy firms are in conflict with EU tax policymaking and should be removed from the process, says European lobby group.
Competition regulator asks Big Four to look for ways to change audit market
Reports suggest that the Competition and Markets Authority has already met with Big Four leaders to discuss audit market change.
KPMG chief concedes that public trust in audit is waning
KPMG’s UK head Bill Michael suggests that the audit market needs to change if public trust is to be maintained.
Audit industry to face fresh “root and branch” review by UK government
Central government is searching for a senior figure to undertake a review of the audit market and model.
Watchdog spotlights KPMG for ‘deterioration’ in audit quality
The Financial Reporting Council has highlighted a worsening in audit quality at KPMG as reports that audit standards across the Big Four firms has fallen.
The audit market concentration ratchet strengthens case for reform
The audit market is being accused of lacking competition, but there is a case for reforming ownership rules.
Big Four auditors ‘prepared’ if regulators push for split
The Big Four audit firms have prepared contingency plans for being broken up, if regulators insist on making big interventions in the market.