Deloitte first off the block after government audit response
Deloitte responded rapidly after the government replied to the Lords audit report, but didn't have much to say
Deloitte responded rapidly after the government replied to the Lords audit report, but didn't have much to say
DELOITTE were the first stakeholders to air their views after the government published its response to the House of Lords audit inquiry.
The Big Four firm didn’t have a great deal to say, highlighting the fact that it is maintaining efforts to “contribute positively to the various reviews that are in progress to promote further audit quality”.
It responded to concerns over the loss of one of the top four firms, saying contingency planning was “key”.
Grant Thornton’s reply was similarly minimalist, saying the most important outcome of the Lord’s report remains the Office of Fair Trading investigation.
Head of external professional affairs Steve Maslin said it is key that efforts at monitoring the relationship between bank auditors and regulators are continuing, and a swing back towards good levels of dialogue has already begun.
Watch this space for more reacitons to the government’s “disappointing” response.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe investigation comes six months after Deloitte were hit with a £1.25m fine 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 judgement concludes more than five years of probes into the audit firm’s accounts Read More...
View articleFormer Deloitte partners failed to act with “professional scepticism” Read More...
View articleWe spoke with Deloitte’s newest UK managing partner Paul Stephenson on the pandemic and what to expect in the new year Read More...
View articleThe perception of audit has changed – and with it the market Read More...
View articleInvestigations into accounting fraud at Goals has involved HMRC, the FCA, BDO, RSM, Deloitte and could see KPMG on the wrong end of legal action, acco...
View articleFollowing the release of the Brydon report, in which Sir Donald Brydon has made 64 recommendations on how to improve the troubled UK audit industry, A...
View article