ACCOUNTING REGULATION is “toothless”, according to Accountancy Age readers, after HP’s £5.5bn write-down following its acquisition of Autonomy.
Of the 72 readers surveyed, 69% agreed more assertive regulation would have highlighted any accounting improprieties, while the remaining 31% felt better regulation would not have necessarily solved the problem.
Citi analysts criticised the way financial reporting is policed by the Financial Reporting Council, in response to allegations of disclosure failures at Autonomy, the former FTSE 100 technology business acquired by HP.
They laid some of the blame on the way annual reports and accounts are policed by the Financial Reporting Review Panel, an arm of the Financial Reporting Council.
The UK’s decision to leave the EU has raised questions about whether the FRC's regulatory framework should change in the future
Company boards must pay more attention to instilling the right corporate culture in order to restore trust in business and deliver long-term sustainable growth, according to the FRC
Despite the high levels of tendering and rotation, the Big Four’s share of the FTSE 350 market has risen from 96.7% to 97.4%, the FRC finds
The FRC has highlighted the things directors should consider when preparing their forthcoming half-yearly and annual financial reports post Brexit