FRC is sounding like a modern day Cassandra
Audit

FRC is sounding like a modern day Cassandra

11y Richard Crump , Writer

FRC is sounding like a modern day Cassandra

Concerns raised in the FRC's latest round of audit inspections sound strikingly familar. Why has the profession failed to address them? Read More...

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Colin: The auditor's reading list
Audit

Colin: The auditor's reading list

11y Taking Stock

Colin: The auditor's reading list

Following the FRC's concerns over Grant Thornton and BDO's audit work, Colin recommends a some light reading Read More...

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GT and BDO told to buck up professional scepticism
Accounting Firms

GT and BDO told to buck up professional scepticism

11y Richard Crump , Writer

GT and BDO told to buck up professional scepticism

FRC review team raises concerns about some of Grant Thornton and BDO's listed company audit work Read More...

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PwC warned to improve in-house audit training by FRC
Accounting Firms

PwC warned to improve in-house audit training by FRC

12y Rachael Singh

PwC warned to improve in-house audit training by F...

Partner training, appraisals, communicating with audit committees and ensuring audit quality is not jeopardised are all areas for improvement at PwC, ...

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AIU warns Deloitte against compromising audit quality
Audit

AIU warns Deloitte against compromising audit quality

12y Richard Crump , Writer

AIU warns Deloitte against compromising audit qual...

Quality of future audits may be affected by fee pressures and initiatives to improve efficiencies, AIU warns Read More...

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KPMG told to improve audit of impairments
Audit

KPMG told to improve audit of impairments

12y Richard Crump , Writer

KPMG told to improve audit of impairments

Failings include insufficient consideration of growth rates, source data and methodologies used by management in considering the potential for impairm...

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FRC: Big Four risk swapping quality for quantity in audits
Audit

FRC: Big Four risk swapping quality for quantity in audits

12y Rachael Singh

FRC: Big Four risk swapping quality for quantity i...

FRC raises concerns that the drive to increase competition could be jeopardising audit quality Read More...

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FRC fires warning shot over audit quality
Audit

FRC fires warning shot over audit quality

12y Richard Crump , Writer

FRC fires warning shot over audit quality

Cost-cutting is damaging sufficiency of audit work, industry watchdog finds Read More...

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Moving up the audit food chain
Audit

Moving up the audit food chain

12y Richard Crump , Writer

Moving up the audit food chain

Mid-tier firms hope AIU report will offer tastier audit clients. But are their eyes bigger than their bellies? Read More...

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CCW needs improvements says AIU report
Accounting Firms

CCW needs improvements says AIU report

12y Rachael Singh

CCW needs improvements says AIU report

Latest audit inspection report into firms' audits highlights improvements needed in at least three of the five audits reviewed at CCW Read More...

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PKF urged to pay more attention to audit of impairments
Accounting Firms

PKF urged to pay more attention to audit of impairments

12y Richard Crump , Writer

PKF urged to pay more attention to audit of impair...

Issues found relating to the sufficiency of audit evidence used for key judgements over the impairment of deferred costs and goodwill Read More...

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Baker Tilly criticised for lack of professional scepticism
Accounting Firms

Baker Tilly criticised for lack of professional scepticism

12y Richard Crump , Writer

Baker Tilly criticised for lack of professional sc...

Issues in the sufficiency or quality of audit evidence were identified in key areas on five audits reviewed by the AIU Read More...

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Financial reporting watchdog to share more information with Audit Inspection Unit
Audit

Financial reporting watchdog to share more information with Audit Inspectio...

12y Richard Crump , Writer

Financial reporting watchdog to share more informa...

Changes aim to improve communication between Financial Reporting Review Panel and AIU and allow Panel more discretion to announce significant changes ...

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FRRP consults to boost communication
Regulatory Bodies

FRRP consults to boost communication

13y Rose Orlik

FRRP consults to boost communication

The Financial Reporting Review Panel is consulting to make its work more visible Read More...

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EU-level regulation 'essential for audit reform'
Audit

EU-level regulation 'essential for audit reform'

13y Rose Orlik

EU-level regulation 'essential for audit reform'

Europe-wide regulation is essential for Barnier's audit reforms, the draft green paper claims Read More...

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EU-level regulation 'essential for audit reform'
Audit

EU-level regulation 'essential for audit reform'

13y Rose Orlik

EU-level regulation 'essential for audit reform'

Europe-wide regulation is essential for Barnier's audit reforms, the draft green paper claims Read More...

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Audit inspectors 'pleased' with smaller firms' progress
Audit

Audit inspectors 'pleased' with smaller firms' progress

13y Rose Orlik

Audit inspectors 'pleased' with smaller firms' pro...

Audit inspectors see improvement among auditors with few listed clients Read More...

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Firm favourites: Cosying up to regulators
Accounting Firms

Firm favourites: Cosying up to regulators

13y Rose Orlik

Firm favourites: Cosying up to regulators

Firms, institutes and regulators are one big happy family, but what does this mean for professional oversight? Read More...

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Audit inspectors optimistic despite firm shortcomings
Audit

Audit inspectors optimistic despite firm shortcomings

13y Rose Orlik

Audit inspectors optimistic despite firm shortcomi...

Audit inspectors claim standards are improving at the top-six firms, but the results tell a different story Read More...

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Audit inspectors extend green light to KPMG
Audit

Audit inspectors extend green light to KPMG

13y Rose Orlik

Audit inspectors extend green light to KPMG

KPMG's extended audit package 'does not harm quality', according to audit inspectors Read More...

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Grant Thornton slips in biennial audit review
Audit

Grant Thornton slips in biennial audit review

13y Rose Orlik

Grant Thornton slips in biennial audit review

Grant Thornton annual audit inspection shows quality may be slipping as two audits 'need significant improvement' Read More...

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Lack of audit scepticism trips E&Y
Audit

Lack of audit scepticism trips E&Y

13y Rose Orlik

Lack of audit scepticism trips E&Y

Audit scepticism a worry as E&Y undergoes its annual audit inspection Read More...

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Deloitte criticised over AIM audit client work
Audit

Deloitte criticised over AIM audit client work

13y Kevin Reed , Writer

Deloitte criticised over AIM audit client work

Audit Inspection Unit hits out at Deloitte's audit work with AIM-listed client Read More...

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PwC must improve goodwill impairment auditing
Audit

PwC must improve goodwill impairment auditing

13y Kevin Reed , Writer

PwC must improve goodwill impairment auditing

Audit Inspection Unit finds issue with PwC's goodwill impairment and revenues audit work Read More...

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POB regulation report names and shames institutes
Practice Regulation

POB regulation report names and shames institutes

13y Rose Orlik

POB regulation report names and shames institutes

POB has for the first time named institutes in need of improvement in its annual report Read More...

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FRC: Audit firms must pull their socks up
Audit

FRC: Audit firms must pull their socks up

13y Rose Orlik

FRC: Audit firms must pull their socks up

Audit inspectors find Big Four should do more to address regulators' concerns, while small firms still lag behind Read More...

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KPMG extended audit 'viewed favourably' by inspectors
Audit

KPMG extended audit 'viewed favourably' by inspectors

13y Rose Orlik

KPMG extended audit 'viewed favourably' by inspect...

Extended audit service up for review; sources suggest Audit Inspection Unit satisfied with what it found Read More...

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