FRC appoints new director of accounting and reporting
People In Practice

FRC appoints new director of accounting and reporting

10y Richard Crump , Writer

FRC appoints new director of accounting and report...

Anthony Appleton, a director from BDO's financial reporting advisory team, joins the FRC Read More...

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Deloitte US slapped with $2m fine over audit violation
Accounting Firms

Deloitte US slapped with $2m fine over audit violation

10y Richard Crump , Writer

Deloitte US slapped with $2m fine over audit viola...

Deloitte hit with joint largest civil fine levied by the PCAOB Read More...

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FIA accounts criticised for lack of transparency
Company News

FIA accounts criticised for lack of transparency

10y Rachael Singh , Writer

FIA accounts criticised for lack of transparency

PwC audited Formula One accounts criticised for lacking disclosure, specifically around personnel spending Read More...

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IFRS Foundation chair warns EU against amending IFRS
Accounting Standards

IFRS Foundation chair warns EU against amending IFRS

10y Richard Crump , Writer

IFRS Foundation chair warns EU against amending IF...

Changing IFRS for European purposes could lead to incompatible standards, warns Michael Prada Read More...

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Competition Commission waters down audit reforms
Audit

Competition Commission waters down audit reforms

10y Richard Crump , Writer

Competition Commission waters down audit reforms

Competition watchdog retreats from contentious plans and imposes ten year audit tendering rules Read More...

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FRC strategy director Mridul Hegde resigns
People In Practice

FRC strategy director Mridul Hegde resigns

11y Richard Crump , Writer

FRC strategy director Mridul Hegde resigns

FRC director of strategy Mridul Hegde unexpectedly resigns from the UK reporting watchdog, Accountancy Age reveals Read More...

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IASB rate-regulation rules unfair to the UK, says FRC
Accounting Standards

IASB rate-regulation rules unfair to the UK, says FRC

11y Richard Crump , Writer

IASB rate-regulation rules unfair to the UK, says ...

FRC suggests interim standard for rate-regulated entities "disadvantageous" to countries that already use IFRS Read More...

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EU tells IASB and Efrag to toughen up governance regimes
Accounting Standards

EU tells IASB and Efrag to toughen up governance regimes

11y Accountancy Age

EU tells IASB and Efrag to toughen up governance r...

Europe calls for IASB funding arrangements to be reliant on the IASB updating its own governance Read More...

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FRC and BIS defend legality of global accounting standards
Accounting Software

FRC and BIS defend legality of global accounting standards

11y Richard Crump , Writer

FRC and BIS defend legality of global accounting s...

FRC and BIS rubbish claims that IFRS conflicts with UK company law as "misguided" Read More...

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PwC’s Powell says international tax no longer fit for purpose
Corporate Tax

PwC’s Powell says international tax no longer fit for purpose

11y Rachael Singh , Writer

PwC’s Powell says international tax no longer fit ...

PwC chairman and senior partner says tax regime needs to evolve with the times Read More...

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Deloitte appeals MG Rover tribunal
Accounting Firms

Deloitte appeals MG Rover tribunal

11y Rachael Singh , Writer

Deloitte appeals MG Rover tribunal

Deloitte and former partner Maghsoud Einollahi have launched an appeal against their fines by the FRC for their MG Rover work Read More...

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FRC proposes tougher measures on exec pay in governance code
Corporate Governance

FRC proposes tougher measures on exec pay in governance code

11y Rachel Dalton

FRC proposes tougher measures on exec pay in gover...

FRC consults on possible amendments to the UK corporate governance code on executive remuneration Read More...

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Consultation to simplify insolvency process launched
Business Regulation

Consultation to simplify insolvency process launched

11y Rachael Singh , Writer

Consultation to simplify insolvency process launch...

Proposals to simplify Insolvency Rules such as allowing electronic submissions is launched by the Insolvency Service Read More...

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FRC vows to continue audit reform fight in annual meeting
Accounting Firms

FRC vows to continue audit reform fight in annual meeting

11y Rachael Singh , Writer

FRC vows to continue audit reform fight in annual ...

FRC says it plans to work closer with audit committees, opens Brussels office, and is verging on sanctioning audit performance failures itself, at Bar...

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PCAOB uncovers audit failings at KPMG and PwC
Accounting Firms

PCAOB uncovers audit failings at KPMG and PwC

11y Richard Crump , Writer

PCAOB uncovers audit failings at KPMG and PwC

Inspections by US's accountancy watchdog uncover failings in 38 audits carried out by PwC and KPMG Read More...

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Competition watchdog urged to water down audit tendering rules
Audit

Competition watchdog urged to water down audit tendering rules

11y Richard Crump , Writer

Competition watchdog urged to water down audit ten...

Competition Commission told to scrap five year audit tendering plans in favour of FRC’s ten year 'comply or explain' approach Read More...

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FRC and PCAOB agree to joint audit supervision
Audit

FRC and PCAOB agree to joint audit supervision

11y Richard Crump , Writer

FRC and PCAOB agree to joint audit supervision

Agreement allows for joint work on inspections and exchanges of otherwise confidential information Read More...

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PCAOB highlights worrying number of “deficient” audits
Audit

PCAOB highlights worrying number of “deficient” audits

11y Richard Crump , Writer

PCAOB highlights worrying number of “deficient” au...

Firms auditing brokers and dealers found wanting by PCAOB inspections Read More...

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Tendering changes will cost audit market £100m a year
Audit

Tendering changes will cost audit market £100m a year

11y Richard Crump , Writer

Tendering changes will cost audit market £100m a y...

Taken together, FRC and Competition Commission audit proposals will cost accountants and businesses £100m a year Read More...

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PCAOB proposes biggest shake-up to US audit reports since 1940s
Audit

PCAOB proposes biggest shake-up to US audit reports since 1940s

11y Richard Crump , Writer

PCAOB proposes biggest shake-up to US audit report...

America's accountancy watchdog wants auditors to reveal more information about the listed companies they audit Read More...

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FRC rubbishes mandatory five year audit tendering
Audit

FRC rubbishes mandatory five year audit tendering

11y Richard Crump , Writer

FRC rubbishes mandatory five year audit tendering

FRC warns five year tendering could result in a "sham process" that will undermine competition Read More...

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Grant Thornton facing two FRC audit probes
Accounting Firms

Grant Thornton facing two FRC audit probes

11y Richard Crump , Writer

Grant Thornton facing two FRC audit probes

FRC is to scrutinise Grant Thorton's auditing of Manchester Building Society and drinks company Nichols Read More...

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FRC closes investigation into KPMG BAE audit
Accounting Firms

FRC closes investigation into KPMG BAE audit

11y Richard Crump , Writer

FRC closes investigation into KPMG BAE audit

FRC closes investigation because no realistic prospect that a tribunal will make an adverse finding to undertaken so long ago Read More...

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MEPs cast doubt on compatibility of IFRS with EU law
Accounting Standards

MEPs cast doubt on compatibility of IFRS with EU law

11y Richard Crump , Writer

MEPs cast doubt on compatibility of IFRS with EU l...

A group of five MEPs call for a review of IFRS' compatibility with European company law Read More...

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RBS fined £5.6m over reporting blunders
Company News

RBS fined £5.6m over reporting blunders

11y Richard Crump , Writer

RBS fined £5.6m over reporting blunders

City watchdog finds Royal Bank of Scotland failed to properly report 44.8 million trades between November 2007 and February 2013 Read More...

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Competition Commission outlines five-year audit tenders
Audit

Competition Commission outlines five-year audit tenders

11y Richard Crump , Writer

Competition Commission outlines five-year audit te...

Auditors to bid for work every five years under new competition rules; but avoid mandatory rotation Read More...

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IASB makes progress on conceptual framework
Regulatory Bodies

IASB makes progress on conceptual framework

11y Richard Crump , Writer

IASB makes progress on conceptual framework

Global standard setter puts draft of the conceptual framework revisions out for discussion Read More...

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