In the government’s auditing interim report, the firms are called upon to improve their own openness and transparency by providing better information on their processes and practices.
The report said it would ‘welcome further work on the proposition that that such firms should be required to provide this information as a condition of appointment as statutory auditors of listed or public interest companies’.
Under current partnership law, firms do not have to disclose any financial information, though there is a requirement to do so under the recently introduced limited liability partnership law.
Only two of the Big Four firms produce financial reports and accounts ? KPMG and Ernst & Young. PricewaterhouseCoopers has said it would do so once it had adopted LLP status.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process