The Institute of Directors has called for the supervision of UK governance to be removed from the Financial Reporting Council and placed with a new independent commission.
The Big Four accountancy firms are in conflict with EU tax policymaking and should be removed from the process, says European lobby group.
Reports suggest that the Competition and Markets Authority has already met with Big Four leaders to discuss audit market change.
Big Four audit firm faces yet another investigation of its work, this time over the collapse of wine business Conviviality.
KPMG’s UK head Bill Michael suggests that the audit market needs to change if public trust is to be maintained.
The FRC is to investigate Deloitte’s audit of buildings and materials firm SIG, conducted in 2015 and 2016.
The Financial Reporting Council has highlighted a worsening in audit quality at KPMG as reports that audit standards across the Big Four firms has fallen.
KPMG has been fined more than £3m and reprimanded for its audit work at insurance outsourcer Quindell.
The European Court of Justice has published guidance on “gun-jumping”, a failure by merging parties to comply with the “standstill obligation”, which requires companies to seek clearance by a competition authority before implementing a merger.
Companies increasingly make their own venture capital deals to win strategic advantage. But investors need to prepare properly before they begin the deal-making.