FRC

Big Four

Big Four fee growth outpaces smaller firms

Big Four firms report 7.7% increase in fees, while smaller firms grow by only 0.6%, FRC report finds

13 Jun 2013

frc-logo

FRC hands ex-Farepak director £65,000 sanction

European Home Retail CEO and Farepak director William Rollason fined and severely reprimanded by the FRC

12 Jun 2013

cta-frc-going-concern

Taking Stock: Don't be concerned

Colin considers the meaning of the FRC's developments on going concern

10 Jun 2013

FRC rethinks controversial going concern proposals

Accounting regulator to change going concern proposals in response to criticism from the profession

07 Jun 2013

FRC may be handed audit market competition remit

Competition Commission may call in FRC to support measures to break audit dominance of the Big Four

07 Jun 2013

FRC makes changes significant changes to audit reports

The finance watchdog has made changes to ISA 700 - in the hope of increasing communication with investors

04 Jun 2013

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?

31 May 2013

FRC warns auditors over ethical failings

FRC reports a general improvement in the quality of audit work but identifies several areas of concern

29 May 2013

Success of FRS 102 needs to be replicated on going concern

The consultation process for FRS 102 was arguably the most wide-ranging the FRC has ever conducted. It should apply the same rigour to going concern

20 May 2013

Material uncertainties over FRC going concern guidance

No-one disputes Lord Sharman’s recommendations on going concern, but the FRC’s interpretation has been met with alarm

14 May 2013

FRC launches KPMG audit probes

FRC launches investigation into KPMG over independence Pendragon audit as well as investigating a partner's shareholding in a client company

10 May 2013

Baroness Hogg steps down as FRC chairman

FRC announces departure of chairman Baroness Hogg, who is staying on while government finds a successor

09 May 2013

FRC confirms budget increase and hike in levy rates

Reporting watchdog increases overall budget for 2013/14 to £24.5m and raises annual levies by 8.5%

02 May 2013

KPMG could face FRC investigation over HBOS audit

FRC announces it will look into whether KPMG will be investigated for a future tribunal over its audit work at HBOS

11 Apr 2013

ASAF discusses conceptual framework at inaugural meeting

IASB and members of the ASAF discuss conceptual framework and impairment projects at inaugural meeting

10 Apr 2013

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

26 Mar 2013

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

22 Mar 2013

FRC disagrees with Competition Commission rotation plans

FRC claims mandatory auditor rotation would undermine audit committees' authority

20 Mar 2013

FRC and FASB among 12 members of IASB advisory forum

US and UK national standard setters among inaugural members of IASB's Accounting Standards Advisory Forum

20 Mar 2013

FRC releases another standard to streamline UK accounting

Financial Reporting Council releases simplified accounting standard which moves the country closer to an IFRS-based framework

14 Mar 2013

Page 6 of 22

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The Practitioner: Pruning clients, growing staff numbers

Not so easy come easy go for the Practitioner, as a troublesome client is finally given the heave-ho, but a new staff member is welcomed on board

Are ethics and profits mutually exclusive?

The markets crave trust, and business must be more proactive in its delivery

ABS: Will you be taking on too much?

While alternative business structures (ABSs) might benefit some accountancy firms, others could be in danger of overstepping their capabilities

p13-fraud

Internal auditors must up game over new anti-corruption rules

Government's more onerous anti-corruption plan means internal auditors must up their game

Colin: Audit losses go down badly

Colin imagines KPMG's reaction to losing Diageo audit

Colin: Deloitte redeems Gherkin

Colin speculates on what changes might take place at 30 St Mary Axe under the new Brazilian ownership

Taking Stock: Netsuite Twitter-trolls Sage CEO on first day

Sage and Netsuite chief executives engage in boisterous Twitter exchange

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Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

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iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.