Tag: EY
Audit woes and reform wrangles
A fierce debate is underway over the future of audit. Could it be resolved with an independent body appointing company auditors?
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.
European Court of Justice provides guidance on merger ‘gun-jumping’
The European Court of Justice has published guidance on “gun-jumping”, a failure by merging parties to comply with the “standstill obligation”, which requires companies to seek clearance by a competition authority before implementing a merger.
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.
Why boards should be clear about long-term value
The need for boards to focus on the long-term value of their organisations is by now well known, but communicating this clearly to stakeholders is crucial if they are to regain public trust and remain sustainable.
MPs to investigate Carillion auditors and board over ‘disaster in the making’
MPs from two House of Commons select committees have launched an investigation into the Carillion collapse, which will also focus on auditors and the actions of the company’s board.
Big Four accounting firms face £10m in fines for faulty audits
Report from accounting watchdog proposes lifting the maximum fines for Big Four audit firms to £10m or more in cases involving “seriously poor audit work”.
M&A post-crisis: the changing role of the NED
As M&A deal activity recovers from post-crisis lows, non-executives are becoming increasingly involved in the pre-deal planning process.
Auditor fined £1.8m for ‘misconduct’
The Financial Reporting Council has fined and reprimanded EY for work on its audit of tech company Tech Data.