Tag: managed shared audit
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.
Audit reform changes will increase ‘pressure’ on boards
Implementing managed shared audit would put a burden on audit committees, a recent panel discussion concluded.
Labour commits to audit reform legislation
Shadow minister for business, Jonathan Reynolds, says Labour will push through audit reform when in office.