TS was left with mixed feelings after BIS’s address to the Audit Quality Forum this morning. Disappointed that the department said so little; impressed that it used so many words.
BIS outlined the issues it refused to discuss: company reporting and accounting; its own narrative reporting consultation; Lord Sharman’s going concern investigation; the European Commission’s new accountancy and company law directives and proposed audit reforms; the Competition Commission inquiry.
Instead, attendees were treated to BIS’s opinions on the only non-contentious issues in audit: Big Four banking covenants must go; a bit less market concentration would be nice; and aren’t 100-year audit relationships terrible!
TS was happy to see a representative of the elusive business department – not so easy to track down after last month’s embarrassing email leak – but next time, something less crashingly conformist would be nice.
Cowgill Holloway and Warings Business Advisors have merged, with a range of growth plans in the North West put in place
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure