8 November, 2019

Auditors struggling to challenge management, says FRC

One of the frequent complaints made of auditors is that they get too cosy with their clients. A report from the UK’s audit watchdog has concluded that they are, at the very least, shy of challenging...

28 October, 2019

Big Four accountancy firms see decline in combined audit income growth

The growth in audit fees for Big Four firms has fallen back significantly to one of its lowest levels since 2010. Audit fees grew by 1.7% for Big Four firms combined—PwC, EY, Deloitte and KPMG—...

5 September, 2019

Indian regulators work on new rules to halt auditor exodus

Those wrestling with the thorny issue of a rising...

3 September, 2019

Auditor resignations indicate new attitude to client selection

The audit profession in Britain is at a turning point as Westminster—Brexit permitting—considers new regulation. It seems firms may be responding by clearing the decks: the press has spotted a ...

31 July, 2019

Fines almost triple as regulators get tough with auditors

Auditors are facing a much tougher environment when their work goes wrong. Figures released by the Financial Reporting Counc...

16 July, 2019

Financial watchdog moves to strengthen audit ethics

Given the frequency of trouble facing auditors in recent years, there was bound to be a reaction. While the government continues to wrestle with reforming the audit market and audit regulation, the cu...

3 June, 2019

Climate change ‘is biggest risk factor for businesses’ say CEOs

Big businesses now see climate change as the biggest risk they face, according to research out this week. A global survey of chief executives by professional services firm KPMG now places climate a...

18 April, 2019

Audit committees face public reprimand as part of market reforms

Audit committees should face public reprimand by regulators if they fail to provide adequate scrutiny of their auditors, according to recommendations from the UK’s competition authority. The prop...

18 December, 2018

UK to replace governance watchdog with new regulator

The UK is to scrap the country's governance, financial reporting and audit watchdog—the Financial Reporting Council (FRC)— and replace it with a brand new regulator. The

19 September, 2018

Audit woes and reform wrangles

In July 2002 Lord Sharman, a former chairman of KPMG International, conceded in the pages of Accountancy Age, a trade publication for bean counters, that having a public sector body audit lis...