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

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
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

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

16 March, 2018

Regulator seeks audit market probe into Big Four domination

One of the UK's senior governance regulators has held meetings with a view to launching an inquiry that would examine whether the Big Four accounting firms should be broken up to create audit-only pro...
boardroom, chairman

7 March, 2018

Investors: revised code ‘too narrowly’ focused on workforce engagement

Proposed revisions to the UK's corporate governance code focus too narrowly on workforce engagement, according to a major body representing investors. The Investment Association, which represents i...
Statoil, Troll A oil platform

2 March, 2018

Norway’s sovereign fund rejects broader role for remuneration committees

Norway's sovereign wealth fund has rejected the idea that remuneration committees should oversee pay across all employees in a company rather than only the board. Norges Bank Investment Management ...
executive pay, remuneration, pay ratios

27 February, 2018

IoD seeks greater role for remcos over share buybacks

Remuneration committees should have responsibility for reporting on what happens to the pay packets of executives following a share buyback, according to the Institute of Directors (IoD). The IoD m...