FRC CEO: cost makes UK SOX “key political decision”

Audit FRC CEO: cost makes UK SOX “key political decision”

1w Sam Alberti

FRC CEO: cost makes UK SOX “key political decision...

Ministers are currently assessing a series of proposals to strengthen UK audit Read More...

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Head of FRC says managed shared audit might not be possible

Audit Head of FRC says managed shared audit might not be possible

4m Tom Lemmon

Head of FRC says managed shared audit might not be...

Proposals on auditing the UK’s largest firms lack sufficient stakeholder support, says Financial Reporting Council CEO Sir Jon Thompson Read More...

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‘Tick-box’ fears over FRC’s revised auditing standard on fraud

Audit ‘Tick-box’ fears over FRC’s revised auditing standard on fraud

5m Tom Lemmon

‘Tick-box’ fears over FRC’s revised auditing stand...

FRC’s revised ISA (UK) 240 standard draws mixed response Read More...

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FRC looks to extend rent concessions for retailers

Business FRC looks to extend rent concessions for retailers

6m Valerie Hart

FRC looks to extend rent concessions for retailers

With many retailers still reeling from the impact of the lockdowns, the Financial Reporting Council (FRC) has proposed extending the application perio...

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FRC launches investigation into Lookers audit

Big Four FRC launches investigation into Lookers audit

7m Aoife Morgan

FRC launches investigation into Lookers audit

Regulatory body has launched an investigation into Deloitte’s auditing practices for the years ending 2017 and 2018 Read More...

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Autonomy auditors criticised in FRC investigation

Audit Autonomy auditors criticised in FRC investigation

9m Aoife Morgan

Autonomy auditors criticised in FRC investigation

Former Deloitte partners failed to act with “professional scepticism” Read More...

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FRC urges government to implement audit reform

Audit FRC urges government to implement audit reform

1y Tom Lemmon

FRC urges government to implement audit reform

Principles for operational separation of audit were released yesterday by the FRC, but new legislation is needed for next steps Read More...

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KPMG, PwC's Eddie Stobart audits under FRC investigation

Audit KPMG, PwC's Eddie Stobart audits under FRC investigation

1y Shannon Moyer

KPMG, PwC's Eddie Stobart audits under FRC investi...

Audits for Eddie Stobart’s 2017 and 2018 accounts found errors dating back several years Read More...

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FRC fines KPMG £700,000 for poor audit

Audit FRC fines KPMG £700,000 for poor audit

2y Tom Lemmon

FRC fines KPMG £700,000 for poor audit

The FRC has fined KPMG UK £700,000 and reprimanded KPMG UK’s former senior partner for Manchester, Nicola Quayle for a “failure to apply sufficient pr...

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Audit quality: Why do FRC fines keep increasing?

Regulatory Bodies Audit quality: Why do FRC fines keep increasing?

2y Leanna Reeves

Audit quality: Why do FRC fines keep increasing?

As the value of fines on audit firms issued by the FRC increases, experts reflect on why the regulator’s approach has changed and how this has impacte...

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FRC extends Thomas Cook investigation to more statements audited by EY

Accounting Firms FRC extends Thomas Cook investigation to more statements audited by EY

2y Chris Jewers

FRC extends Thomas Cook investigation to more stat...

The UK’s audit and accountancy watchdog has announced it will expand its investigation into EY’s auditing of Thomas Cook’s financial statements to inc...

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FRC revises standards in bid to strengthen audit confidence

Accounting Standards FRC revises standards in bid to strengthen audit confidence

2y Chris Jewers

FRC revises standards in bid to strengthen audit c...

The FRC has issued revised ethical and auditing standards in an effort to strengthen auditor independence and ban conflicts of interest. Read More...

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FRC releases revised UK Stewardship Code

Business FRC releases revised UK Stewardship Code

2y Leanna Reeves

FRC releases revised UK Stewardship Code

The Financial Reporting Council (FRC) has just launched a revised version of the UK Stewardship Code, which directly addresses issues raised by Sir Jo...

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Deloitte auditor accused of recklesness at FRC tribunal

Audit Deloitte auditor accused of recklesness at FRC tribunal

2y Shannon Moyer

Deloitte auditor accused of recklesness at FRC tri...

On the first day of the long-running Financial Reporting Council's disciplinary tribunal, Deloitte's auditors have been called "reckless" and subjecti...

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FRC launches investigation into EY's Thomas Cook auditing

Big Four FRC launches investigation into EY's Thomas Cook auditing

2y Shannon Moyer

FRC launches investigation into EY's Thomas Cook a...

Following the collapse of Thomas Cook, the regulatory body has launched an investigation into EY's auditing practices within the travel company for th...

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Thomas Cook: Case for investigation to be assessed by FRC

Accounting Firms Thomas Cook: Case for investigation to be assessed by FRC

2y Chris Jewers

Thomas Cook: Case for investigation to be assessed...

The FRC has the power to investigate Thomas Cook’s auditors and any accountants that work for the company who are registered with a professional body ...

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FRC announce HMRC CEO Jon Thompson as replacement for Haddrill

HMRC FRC announce HMRC CEO Jon Thompson as replacement for Haddrill

2y Tom Lemmon

FRC announce HMRC CEO Jon Thompson as replacement ...

HMRC CEO Sir Jon Thompson will replace Stephen Haddrill as chief executive of the FRC as it transitions into the new regulator, ARGA Read More...

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FRC audit inspection finds no improvement on last year

Accounting Firms FRC audit inspection finds no improvement on last year

2y Chris Jewers

FRC audit inspection finds no improvement on last ...

75% of FTSE 350 audits assessed as good or requiring limited improvements, failing to meet the FRC's 90% target Read More...

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FRC: new “rigorous requirements” for Stewardship Code

Corporate Governance FRC: new “rigorous requirements” for Stewardship Code

3y Emanuela Hawker, Reporter

FRC: new “rigorous requirements” for Stewardship C...

The Financial Reporting Council aims for the Stewardship Code to better complement “stronger corporate governance provisions” Read More...

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Update on Carillion: FRC continue investigating KPMG for 2014-17 audits of construction company

Audit Update on Carillion: FRC continue investigating KPMG for 2014-17 audits of construction company

3y Lucy Skoulding, Reporter

Update on Carillion: FRC continue investigating KP...

The investigation into Carillion's collapse continue on with a renewed focus on KPMG's audits of the construction business Read More...

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FRC v Sports Direct : the latest regulatory challenge on privilege

Audit FRC v Sports Direct : the latest regulatory challenge on privilege

3y Richard Highley and Julian Bubb-Humfryes

FRC v Sports Direct : the latest regulatory challe...

The FRC has successfully persuaded a court to order an audit client, Sports Direct International Plc (SDI), to disclose privileged documents relevant ...

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FRC shout for independence, viability and higher quality in the UK audit market

Audit FRC shout for independence, viability and higher quality in the UK audit market

3y Lucy Skoulding, Reporter

FRC shout for independence, viability and higher q...

FRC's deputy director of audit policy Mark Babington on why the audit industry needs an overhaul and what the group plans to do to improve it Read Mor...

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FRC investigating Grant Thornton's Sports Direct audits

Practice FRC investigating Grant Thornton's Sports Direct audits

3y Lucy Skoulding, Reporter

FRC investigating Grant Thornton's Sports Direct a...

Mike Ashley's Sports Direct allegedly made hundred of thousands of pounds in undisclosed payments to his brother's company, Barlin Deliveries Read Mor...

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Fined by FRC: Grant Thornton next in the firing line

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

3y 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

3y Lucy Skoulding, Reporter

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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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

3y Lucy Skoulding, Reporter

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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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

3y Lucy Skoulding, Reporter

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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FRC finds audit failures in UK pension scheme reporting

Audit FRC finds audit failures in UK pension scheme reporting

3y Lucy Skoulding, Reporter

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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