boardroom, governance

12 December, 2017

‘Communication gap’ found between audit committee chairs and auditors

A "communication gap" between audit committee chairs and auditors over the level of materiality applied during an audit is occurring in a significant number of companies, according to a thematic revie...
climate change

28 November, 2017

Investment consultants warned of climate change risks

Investment consultants for defined benefit pension schemes have been warned that they could face legal risks if they fail to properly integrate climate into their work for trustees. In a new report...
City of London, investment, risk

24 November, 2017

Investors seek more ‘comprehensive information’ on risks

More improvements could be made to the reporting of risk, according to a UK watchdog, though investors say they have seen progress in both reporting and engagement since the financial crisis. A new...
Big Four, Deloitte, KPMG, EY, PwC

22 November, 2017

Big Four accounting firms face £10m in fines for faulty audits

Big Four accounting firms could face fines of up to £10m or more for faulty audits, a report proposes for UK regulators. The report, compiled for the Financial Reporting Council (FRC), concludes t...
Mitie

21 November, 2017

Mitie’s financial reporting falls under further scrutiny

Financial statements issued by Mitie, the outsourcing giant, are to face further investigation, following an announcement by watchdogs. The Financial Reporting Council (FRC), the accounting regulat...
Brexit, EU, Union Jack, flags

17 November, 2017

Watchdog to review reporting of Brexit risks

The UK's corporate reporting watchdog will be reviewing how Brexit affects the disclosure of "principal risks and uncertainties" in its next thematic reviews. The Financial Reporting Council (FRC) ...
Audit stamp, audit quality, auditor reporting

3 November, 2017

SEC approves enhanced auditor reporting and communication

The US markets regulator has approved new audit rules that will increase the level of information provided by auditors about the work they’ve undertaken. Communication of "critical audit matters"...
M&A, NEDs

31 October, 2017

M&A post-crisis: the changing role of the NED

After the financial crisis of 2007–2008, mergers and acquisitions dried up. However, recent figures show that deals are back, causing a frisson in the markets. But w...
China, Chinese business

27 October, 2017

Overcoming difference as Chinese investment in Europe grows

Five years ago if European companies—irrespective of the industry sector—were seeking new investors, they could count on direct foreign investment from China. Indeed...
Stephen Haddrill, FRC

27 October, 2017

Regulator seeks to hold international audit networks to account

The leadership of global audit networks should be held to account, and work is underway to see how it can be achieved, according to the chief executive of the UK's audit regulator. Currently audit ...