9 September, 2020

Only 8% of UK businesses have ‘fully-fledged’ climate risk plan

Outside of Covid-19, climate remains the biggest agenda issue for society. And yet doubts are emerging over the readiness of big business to tackle global warming. Fresh research published this wee...

4 September, 2020

PwC loses top spot in the FTSE 100 audit rankings to KPMG

For those intrigued by the arcane world of audit a small earthquake has just occured. PwC, for some time the UK’s most significant auditor of FTSE 100 companies, has lost its top position. Resear...

27 July, 2020

Audit keeps failing—here’s why a fundamental change is needed

A massive shakeup of the UK’s audit industry is on the cards. The Big Four, which audit all of the FTSE 100 and 21 of the FTSE 250, have been told by the accounting regulator

14 July, 2020

FRC scrutiny of audit quality reveals “unacceptable” level of issues

There is fresh criticism of auditors this week, as regulators report a third of audits inspected during the past year required a level of improvement that is “unacceptable”. Audit firms have al...

12 June, 2020

BDO client increase sees it overtake KPMG in UK auditor rankings

Change may be under way in the audit market, albeit tentatively. BDO, an audit firm outside the global Big Four, has become the second largest firm by number of listed clients in the UK, overtaking KP...

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...