Tag: Kingman review
UK watchdog pushes for long-awaited audit reform bill
There is ‘broad spread stakeholder support’ for the core elements of reform, says the head of the Financial Reporting Council.
Reforms impose new responsibilities on directors for financial reporting
Government recommendations on audit reform, set to be published next week, will hold directors responsible for failures in financial reporting.
FRC issues principles for separation of audit from other services
The UK financial watchdog has announced that the operational separation of audit must take place by the end of June 2024.
BDO client increase sees it overtake KPMG in UK auditor rankings
Signs of change at the top as BDO is ranked second only to PwC by number of listed clients—although FTSE 100 audits remain the preserve of the Big Four.
Big Four accountancy firms see decline in combined audit income growth
PwC, EY, Deloitte and KPMG saw audit income grow by 1.7% in 2017–18 compared with 5.7% the previous year, amid continuing pressure for market reform.
New UK stewardship code puts focus on investor engagement
Revised code shifts the emphasis from stating policies to assessing outcomes, with ESG and climate named as key areas for companies to take into account.
Sir John Kingman warns government over unfinished FRC reforms
The author of a review into the Financial Reporting Council (FRC) has written to the business select committee to protest that the Queen’s Speech failed to include FRC reforms.
Financial watchdog moves to strengthen audit ethics
Changes include a shorter list of permitted extra services and a stronger role for an “ethics partner” inside audit firms.
Audit committees: increased scrutiny is the only certainty
A number of recent reviews have concluded that greater scrutiny of the audit process is necessary, after a series of high-profile corporate failures. But what shape will any legislation take? And how will changes to the role of the audit committee affect the board as a whole?
Government to push ahead with new audit and governance watchdog
The government has launched a consultation on creating a new governance and audit watchdog with more powers, to replace the Financial Reporting Council (FRC).