FRC

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, ...
City of London, audit

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 ...
Big Four, PwC, Deloitte, EY, KPMG

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...
FRC new website

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...
Carillion

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 ...
Carillion

14 March, 2018

Carillion collapse reveals gaps in supply chain accounting

Flaws in the way companies account for supply chain finance may have contributed to the collapse of Carillion because it failed to reveal the true extent of the construction giant's debt, according to...
Philip Green, Carillion

1 March, 2018

Carillion chairman ‘lacked even a tenuous grasp’ on its position

Former Carillion chairman Philip Green “appeared to lack even a tenuous grasp” on the company’s parlous condition, according to ministerial committees investigating its demise. The latest com...
corporate governance code

21 February, 2018

Could a revised governance code offer broader scope?

Just when it might seem that corporate governance debacles were receding into the past, along come two more as reminders that confidence in business can be fragile. Events at Persimmon (...
Helical

9 February, 2018

Board moves at Helical, Victrex and Future

Helical A new era will begin at listed property developer Helical, as chairman Mike Slade is to leave the business in July 2019. Slade, who has served with Helical since 1984 and became c...
Philip Green, Carillion

7 February, 2018

Ex-Carillion chairman takes ‘full responsibility’ as directors grilled

Ex-Carillion chairman Philip Green said his responsibility for the company’s collapse was “full and complete”, as former Carillion directors faced a barrage of questions and criticism from MPs y...