Fined by FRC: Grant Thornton next in the firing line
Audit

Fined by FRC: Grant Thornton next in the firing line

6y Emanuela Hawker , Reporter

Fined by FRC: Grant Thornton next in the firing li...

Doubts about the FRC’s efficiency continue to plague the watchdog body Read More...

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FRC competence review leaves watchdog on tenterhooks
Audit

FRC competence review leaves watchdog on tenterhooks

6y Accountancy Age

FRC competence review leaves watchdog on tenterhoo...

The Financial Reporting Council faced serious criticism from shareholders, accountants, and fund managers following the accounting scandals of the las...

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KPMG fined and reprimanded over Ted Baker audits
Audit

KPMG fined and reprimanded over Ted Baker audits

6y Accountancy Age

KPMG fined and reprimanded over Ted Baker audits

The offenders admitted breaching ethical standards and losing independence in the audits Read More...

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The global fight against fraud and corruption: what role does the accountant play?
Audit

The global fight against fraud and corruption: what role does the accountan...

6y Accountancy Age

The global fight against fraud and corruption: wha...

Accountancy Age discusses how the profession can help in the global fight against fraud and corruption with Russell Guthrie, CFO at the International ...

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FRC strikes out at PwC's BHS audit quality following leaked report
Audit

FRC strikes out at PwC's BHS audit quality following leaked report

6y Accountancy Age

FRC strikes out at PwC's BHS audit quality followi...

The Financial Reporting Council has called PwC's audits of the collapsed BHS "inaccurate, and misleading" Read More...

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Monthly news roundup with Lucy Skoulding
Audit

Monthly news roundup with Lucy Skoulding

6y Accountancy Age

Monthly news roundup with Lucy Skoulding

Accountancy Age's Lucy Skoulding provides a roundup of all the key new stories in the accountancy industry from the month of July Read More...

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FRC data on Big Four audits may highlight need for industry overhaul
Audit

FRC data on Big Four audits may highlight need for industry overhaul

6y Accountancy Age

FRC data on Big Four audits may highlight need for...

New FRC data shows that audit fees across EY, Deloitte, KPMG, and PwC rose by nearly 6 percent in 2016/17 compared with a 2.7 percent rise the previou...

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Ex-KPMG auditor faces six charges over Gupta wedding scandal
Audit

Ex-KPMG auditor faces six charges over Gupta wedding scandal

6y Accountancy Age

Ex-KPMG auditor faces six charges over Gupta weddi...

Jacques Wessels will be charged for inappropriate conduct and tax evasion after working on the books of businesses owned by the Gupta family Read More...

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BDO maintains lead in AIM auditor rankings
Audit

BDO maintains lead in AIM auditor rankings

6y Accountancy Age

BDO maintains lead in AIM auditor rankings

BDO has continued its leading streak in auditing more Alternative Investment Market (AIM) companies than any other firm Read More...

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Another accounting error for BT Group as £500m pension deficit mistake revealed
Audit

Another accounting error for BT Group as £500m pension deficit mistake reve...

6y Accountancy Age

Another accounting error for BT Group as £500m pen...

Willis Towers Watson’s miscalculation of the group’s pension deficit follows the recent accounting scandal which knocked £8bn off its stock market val...

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FRC finds audit failures in UK pension scheme reporting
Audit

FRC finds audit failures in UK pension scheme reporting

6y Accountancy Age

FRC finds audit failures in UK pension scheme repo...

Nearly half of the audit work for pensions valuations inspected by the watchdog this year was found to have problems Read More...

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KPMG South Africa hit hard as more clients sever ties following audit scandals
Audit

KPMG South Africa hit hard as more clients sever ties following audit scand...

6y Accountancy Age

KPMG South Africa hit hard as more clients sever t...

Mining company Gold Fields and mutual savings bank Finbond are the latest blow to the Big Four firm's audit clients Read More...

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FRC fines reach record high after 24% increase this year
Audit

FRC fines reach record high after 24% increase this year

6y Accountancy Age

FRC fines reach record high after 24% increase thi...

After a string of high profile audit failings, including the collapse of Carillion, the FRC has been under increasing pressure from the government and...

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PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit
Audit

PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

6y Accountancy Age

PwC replaces Deloitte as Linklaters auditor after ...

The conflict began when Arsenal stakeholder Lady Nina Bracewell-Smith filed a professional negligence claim against the Big Four and magic circle firm...

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New FRC Corporate Governance Code focuses on culture and diversity
Audit

New FRC Corporate Governance Code focuses on culture and diversity

6y Accountancy Age

New FRC Corporate Governance Code focuses on cultu...

The FRC's new Corporate Governance Code promotes trust, transparency and integrity in business in the face of the recent call for audit reforms Read M...

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PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud
Audit

PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

6y Accountancy Age

PwC ordered to pay $625.3m over failure to detect ...

A US federal judge found that as auditor PwC was negligent and failed to detect £2bn fraud which spanned several years Read More...

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FRC to investigate KPMG’s Conviviality audit
Audit

FRC to investigate KPMG’s Conviviality audit

6y Accountancy Age

FRC to investigate KPMG’s Conviviality audit

The FRC is investigating KPMG over its 2017 audit of Conviviality, which went into administation in April after finding an unexpected tax bill of £30m...

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June news roundup with Alia Shoaib
Audit

June news roundup with Alia Shoaib

6y Accountancy Age

June news roundup with Alia Shoaib

Accountancy Age's Alia Shoaib provides a roundup of all the key new stories in the accountancy industry from the month of June Read More...

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FRC opens investigation into Deloitte’s audits of SIG
Audit

FRC opens investigation into Deloitte’s audits of SIG

6y Accountancy Age

FRC opens investigation into Deloitte’s audits of ...

The investigation comes months after shareholders voted to remove Deloitte as auditor in an unusual rebellion, and will focus on the audit of cash and...

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PwC auditor spent just two hours on BHS audit, says chairman
Audit

PwC auditor spent just two hours on BHS audit, says chairman

6y Accountancy Age

PwC auditor spent just two hours on BHS audit, say...

In a damning email circulated to PwC partners, Kevin Ellis said Steve Denison spent only two hours on the audit and backdated his audit opinion Read M...

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FRC reports an “unacceptable deterioration” in KPMG audit quality
Audit

FRC reports an “unacceptable deterioration” in KPMG audit quality

6y Accountancy Age

FRC reports an “unacceptable deterioration” in KPM...

The report found that half of KPMG's audits needed more than limited improvements, and will now increase scrutiny on the firm's upcoming audit work Re...

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PwC fined a record £10m over BHS audit
Audit

PwC fined a record £10m over BHS audit

6y Accountancy Age

PwC fined a record £10m over BHS audit

The record fine comes after a two-year investigation into BHS’s 2014 audits, which PwC had signed off on just days before its sale for £1 Read More...

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KPMG fined £4.5m over Quindell audit misconduct
Audit

KPMG fined £4.5m over Quindell audit misconduct

6y Accountancy Age

KPMG fined £4.5m over Quindell audit misconduct

The firm admitted to two counts of misconduct and said that it "should have gone further" in challenging the scandal-ridden company's accounts Read Mo...

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PwC to net £50m from Carillion insolvency
Accounting Firms

PwC to net £50m from Carillion insolvency

6y Accountancy Age

PwC to net £50m from Carillion insolvency

The NAO report revealed that Carillion's insolvency will cost the taxpayer £148m while PwC will net £50m, a figure that has been questioned by MPs Rac...

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Deloitte faces disciplinary action over Autonomy accounts scandal
Audit

Deloitte faces disciplinary action over Autonomy accounts scandal

6y Accountancy Age

Deloitte faces disciplinary action over Autonomy a...

The FRC has brought disciplinary action against Deloitte auditors over their failure to adequately challenge issues with Autonomy’s accounts, which le...

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Is predictive analytics the end of the annual audit?
Audit

Is predictive analytics the end of the annual audit?

6y Martin Herron , MHA MacIntyre Hudson

Is predictive analytics the end of the annual audi...

Predictive technology is turning traditional audit work on its head so audit teams need to embrace these tools and hone their skills in it Read More...

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Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up
Audit

Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

6y Accountancy Age

Auditors ‘in the dock’ over Carillion as report ca...

Inquiry report is scathing of Carillion directors and auditors and calls for the audit market to be referred to the Competition and Markets Authority ...

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