Tag: managed shared audit

Failure to reform audit could hit taxpayers’ pockets
When large firms go bust, ‘the British public pays the price’ in bailouts, job losses and disruption, warns professor.

‘Uncertainty’ remains over audit reform
The Institute of Directors foresees a move forward by the government, but whether this will follow previous proposals is unclear.

UK audit market shows signs of diversifying
There has been an increase—albeit small—in challenger audit firms’ share of the takings, according to FRC figures.

ISG’s demise triggers audit reform push
Building giant ISG goes into administration, highlighting the lack of progress on audit reform since Carillion’s collapse in 2018.

Audit reform back on the government’s agenda
Today’s King’s Speech included a declaration that the UK would get a draft audit reform and corporate governance bill.

Business renews calls to government for audit reform
Accountancy body ACCA seeks ‘timetables for addressing key issues such as economic, fiscal and corporate governance reforms’.

What will the new UK government do for governance?
Sir Keir Starmer has committed the Labour administration to ‘service’: by rights, that should include improving business ethics.

Big Four continue to dominate audit market
FRC review of audit market competition reveals 98% market share that ‘leaves little room for challengers to emerge’.

Boards will need to make internal controls statement
Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.

UK government backtracks on audit reform
Plans for resilience reporting regulations are scrapped in the volte-face, as is the requirement for an audit and assurance policy.