MID-TIER FIRMS’ international chiefs have issued a joint plea for radical reform of the audit market.
The heads of BDO, Grant Thornton, Mazars and RSM International have asked European Union markets commissioner Michel Barnier (pictured) to maintain his stance for wide-sweeping changes to the audit market.
His plans to force through joint audits, mandatory rotation and split up the firms into “audit-only” are expected to be watered down, reports the Financial Times. After intense lobbying from the firms and other business representatives, Joint audit is likely to be dropped, while firms could be blocked from selling consultancy work to clients.
Grant Thornton International chief executive Ed Nusbaum said the early draft proposals were more favourable. “We believe that the proposals coming out of the commission benefit investors,” he said.
The Treasury Select Committee criticises the FRC for a 'lack of curiosity and diligence' in deciding to not investigate KPMG’s audit of HBOS before the publication of a report financial regulators, the FCA and PRA
FRP Advisory sells business and assets of Harland Machine Systems Limited to Accraply Europe Limited
Last week, the Practitioner opened an email from a large, high maintenance, client and was left speechless
Under the deal, Blick Rothernberg will sit within HgCapital’s Services sector but will retain its name and way of doing business