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
Grant Thornton’s decision throws a cloud over audit market
After a huge effort to reform the audit market with European Union legislation, it now appears that auditors and audit in the UK seem to be struck by profound uncertainty all over again. A successi...
22 March, 2018
Financial Reporting Council to face ‘competency inquiry’ by government
Accounting’s regulator faces the prospect of an inquiry into its competency by the government. Business secretary Greg Clark MP told a parliamentary committee investigating the collapse of Carill...
20 March, 2018
Former FDs at Carillion face probe over financial statements
Two finance directors are to be investigated for their conduct in preparation of financial statements at the collapsed construction giant Carillion. Zafar Khan and Richard Adams, both former group ...
14 March, 2018
