KPMG, audit, Big Four

12 June, 2018

KPMG fined over audit work at Quindell

The auditor of controversial insurance outsourcer Quindell has been fined more than £3m over its work with the client. KPMG was reprimanded and fined £4.5m (discounted for settlement at £3.15m),...
FRC, audit

4 June, 2018

More powers for FRC receives scant support from company secretaries

Fewer than one-third of company secretaries want the UK's corporate governance watchdog to have more enforcement powers, a survey has found. The poll, carried out by ICSA: The Governance Institute ...
Big Four, PwC, Deloitte, EY, KPMG

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
Carillion

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...
Audit stamp, audit quality, auditor reporting

10 May, 2018

‘Professional scepticism’ must be further embedded into audit firms’ culture

Greater consideration must be made by auditors into embedding a culture where integrity and professional scepticism are fundamental to their work, according to a new report by accounting watchdog the ...
FRC, audit

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 ...

9 April, 2018

Big Four auditors could face £10m fines under new sanctions

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28 March, 2018

Gove told financial regulators should get tough on climate risk reporting

Climate change reporting must be embedded into UK regulators’ remit, a parliamentary committee has recommended to environment secretary Michael Gove MP. The key finance bodies—the Financial Con...
Carillion, FRC

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 ...