PracticeAuditFTSE 350 urged by CIMA chief to speak out on audit

FTSE 350 urged by CIMA chief to speak out on audit

Debate on choice in the audit market should be widened

The Chartered Institute of Management Accountants has encouraged FTSE 350
companies to get in on the debate on choice in the audit market.

The message, from the institute’s chief executive Charles Tilly, comes on the
back of a series of discussions on choice, prompted by a discussion paper
published by the Financial Reporting Council.

This followed growing concern that 93% of listed companies choose to use an
audit service provided by one of the Big Four.

The FRC received submissions on the topic, ranging from measures to encourage
measures to prevent the decline of another Big Four, to joint audits which would
give mid-tier companies more significant access to the market.

‘It is crucial that the FTSE 350 companies take an active role in the debate,
possibly through the FRC’s proposed market participants group,’ Tilly said.

Related Articles

EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

1d Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

4d Emma Smith, Managing Editor
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2w Alia Shoaib, Reporter
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

1m Alia Shoaib, Reporter
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

1m Alia Shoaib, Reporter
KPMG rocked by South African corruption scandal

Audit KPMG rocked by South African corruption scandal

3w Alia Shoaib, Reporter
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

4w Emma Smith, Managing Editor