Tag: PwC
Audit keeps failing—here’s why a fundamental change is needed
The frequency with which companies fail—seemingly without any warning signs—has grown in recent years, with Wirecard the latest example. Auditing needs reform.
FRC scrutiny of audit quality reveals “unacceptable” level of issues
The Financial Reporting Council looked at 88 audits conducted by a number of firms and found that 33% needed “more than limited improvements”.
BDO client increase sees it overtake KPMG in UK auditor rankings
Signs of change at the top as BDO is ranked second only to PwC by number of listed clients—although FTSE 100 audits remain the preserve of the Big Four.
CEOs say these 4 factors will shape business in 2020
More than half of CEOs believe the rate of global economic growth will decline, according to PwC’s Annual Global CEO Survey. But climate change could provide opportunities.
Auditors struggling to challenge management, says FRC
Financial Reporting Council report warns that auditors are still failing to reach the “necessary high standard” of audit quality.
Big Four accountancy firms see decline in combined audit income growth
PwC, EY, Deloitte and KPMG saw audit income grow by 1.7% in 2017–18 compared with 5.7% the previous year, amid continuing pressure for market reform.
Indian regulators work on new rules to halt auditor exodus
Indian financial watchdog launches consultation on the correct procedure for auditor resignations after a series of high-profile exits.
Auditor resignations indicate new attitude to client selection
A series of high-profile auditor resignations suggest that UK audit firms are becoming more cautious about the companies they work for.
Fines almost triple as regulators get tough with auditors
PwC and KPMG among the firms sanctioned, as the FRC expands enforcement and steps up the use of “horizon scanning” techniques to spot potential problems.
Financial watchdog moves to strengthen audit ethics
Changes include a shorter list of permitted extra services and a stronger role for an “ethics partner” inside audit firms.