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...
12 September, 2018
‘Uncharted territory’ for directors as hard line set for pension regulation
When the construction giant Carillion collapsed earlier this year it emerged that the company went under, leaving liabilities of around £7bn. Observers questioned why the company’s problems were no...
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...
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...
17 May, 2018
Big Four auditors ‘prepared’ if regulators push for split
The UK’s largest accounting firms are preparing themselves for a potential breakup of their offerings. After two influential committees of MPs
16 May, 2018
MPs call on competition regulator to review audit market post-Carillion
Auditors are under renewed pressure for change following a scathing report from a committee of MPs calling for the UK government to refer the Big Four firms to competition regulators. The call come...
17 April, 2018
‘Root and branch’ review of FRC launched by government
A “root and branch review” of the UK’s accounting and finance regulator is to be led by former Treasury head Sir John Kingman. The Financial Reporting Council (FRC) will have its governance, ...
11 April, 2018
Watchdog to step up monitoring of largest audit firms
A watchdog is to step up its monitoring of the UK's six biggest audit firms, in particular their leadership arrangements. The Financial Reporting Council (FRC) said that among a collection of five ...
1 April, 2018
