As the October 28 deadline approaches, accounting firms across the UK are being urged to contribute to a critical consultation that could reshape how ...
View articleThe Financial Reporting Council’s Annual Review of Audit Quality for 2024, released on July 30, 2024, paints a picture of an audit landscape in ...
View articleInvestigations revealed that KPMG failed to gather sufficient audit evidence and did not exhibit the necessary professional scepticism required for au...
View articleThe FRC's sanctions against the three audit firms involved in the LCF audits serve as a stark reminder of the vital role that auditors play in maintai...
View articleAuditors asked to explain what measures they are taking to combat rule-breaking Read More...
View articleThe FRC's Enforcement Committee identified significant departures from expected auditing standards, including uncorrected material errors in financial...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleThe proposed enhancements, including the focus on material misstatements arising from non-compliance, the introduction of a risk assessment process, a...
View articleThe Financial Reporting Council's record fines imposed on audit firms in 2023 demonstrate its unwavering commitment to enhancing audit quality. Read M...
View articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
View articleThe Big Four audit firms earned 98% of FTSE 350 audit fees in 2022, despite efforts to increase competition within the market Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View articleContinuing econonmic uncertainty serves as a reminder to businesses that consistent, high-quality financial reporting is more important than ever, a F...
View articleAccording to the Chartered IIA, internal audit should be placed at the forefront of a new Code Read More...
View articleThe FRC has announced Richard Moriarty as its new chief executive, replacing Sir Jon Thompson Read More...
View articleAfter cooperating with the inquiry, the firms and partners received a reduction in fines Read More...
View articleThe proposals form part of an ongoing overhaul of audit and corporate governance in the UK Read More...
View articleBut it may not be the solution to building consistently high-quality audits Read More...
View articleThe investigation comes six months after Deloitte were hit with a £1.25m fine Read More...
View articleThis is the second investigation the FRC has commenced into audits by EY this week Read More...
View articleSir Jon Thompson will begin leading the HS2 project with immediate effect Read More...
View articleThe FRC wants to help firms understand what ESG information stakeholders really want Read More...
View articleThe Big Four firm was found guilty of breaches in relation to cash and the audit of supplier rebates Read More...
View articleThe audit regulator announced new supervisory measures to help smaller audit firms grab market share Read More...
View articleThe Financial Reporting Council (FRC) has unveiled plans to stimulate competition and resilience in the UK audit market, with a view to remedying the ...
View articleBoth companies and their auditors must improve on cash flow statements, the regulator said Read More...
View articlePreparers of non-financial reports must consider materiality and how it serves the primary users of the statements, panelists at an FRC event said Rea...
View articleThe FRC regulator’s audit quality scores show a slight improvement despite “unacceptable” reviews from Mazars and BDO Read More...
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