KPMG, Big Four

21 August, 2018

KPMG conflict of interest with Ted Baker results in £3m FRC fine

Accountancy’s regulator has fined KPMG and partner Michael Barradell after they admitted misconduct in relation to the audits of fashion retailer Ted Baker in 2013 and 2014. The Financial Reporti...
Institute of Directors, IoD

7 August, 2018

IoD calls for independent commission to take governance from FRC

One of the UK's leading business groups has called for a new commission to supervise corporate governance, separating the task from the existing watchdog, the Financial Reporting Council (FRC). The...
Financial Reporting Council, Paul George, FRC

31 July, 2018

Strategic report guidance amended to include ‘broader impact’

Revised guidance has been issued by the financial reporting watchdog on the strategic report, in a bid to encourage companies to “consider wider stakeholders and broader matters” impacting perform...
Sir Win Bischoff, FRC, Financial Reporting Council, corporate governance

16 July, 2018

Board chairs offered extension on nine-year terms in new code

Board chairs have been offered flexibility to serve beyond a nine-year term in the UK's new corporate governance code. Released on Monday this week, an earlier draft had been notable for provisions...
David Styles

12 July, 2018

Flexibility on offer for chairman terms in new governance code

Company chairmen are to be granted flexibility in the UK’s new corporate governance code to be considered independent beyond nine-year terms, according to a senior figure behind the new document. ...
Big Four, Deloitte, KPMG, EY, PwC

9 July, 2018

Competition regulator asks Big Four to look for ways to change audit market

Reports suggest this morning that the Big Four audit firms have been asked to investigate ways of increasing the choice of auditors for companies listed in the UK. There has been pressure on the UK...
KPMG, audit, Big Four

3 July, 2018

KPMG under further scrutiny over audit of booze business

KPMG, the Big Four audit firm, is to face yet another investigation after regulators announced they would probe its work at open-all-hours wine chain Conviviality. The Financial Reporting Council (...
KPMG, Big Four

25 June, 2018

Audit industry to face fresh “root and branch” review by UK government

The UK government is to undertake a review of the audit industry, asking whether the current model for audit is fit for purpose. However, The Times reports this morning that the government...
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 ...