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...
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...
Auditor reading documents

8 November, 2019

Auditors struggling to challenge management, says FRC

One of the frequent complaints made of auditors is that they get too cosy with their clients. A report from the UK’s audit watchdog has concluded that they are, at the very least, shy of challenging...
Big Four, PwC, Deloitte, EY, KPMG

28 October, 2019

Big Four accountancy firms see decline in combined audit income growth

The growth in audit fees for Big Four firms has fallen back significantly to one of its lowest levels since 2010. Audit fees grew by 1.7% for Big Four firms combined—PwC, EY, Deloitte and KPMG—...
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 ...
man running, future fit

7 August, 2019

Setting the pace: how to ensure your board is fit for the future

To excel at any pursuit, you need to follow a fitness programme. This is no different whether you are an elite athlete or high-level business executive. But crucially, at a time of rapid advances in t...
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...
mergers and acquisitions, M&A, takeovers

18 April, 2019

Trend for portfolio reviews drives M&A optimism

Nothing excites the business world like an M&A deal. Think of the fuss caused by the $30bn race to takeover of Sky by Comcast. And according to advisory firm EY, executives are so heady with M&...

19 September, 2018

Audit woes and reform wrangles

In July 2002 Lord Sharman, a former chairman of KPMG International, conceded in the pages of Accountancy Age, a trade publication for bean counters, that having a public sector body audit lis...