According to The Times, the Treasury review of auditing, set up in the wake of the Enron scandal, will conclude in an interim report this month that says company audit firms should be rotated every seven years to shake up the ‘cosy’ relationship between auditor and client.
This would also prohibit firms selling management consultancy services to their clients, though it remained uncertain how such services would be defined.
The review, led by Ruth Kelly, financial secretary to the Treasury, and Melanie Johnson, trade and industry ministry, is also expected to address audit and accounting standards.
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
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day