The new body, to be called the financial reporting and audit authority, would take over from the Accountancy Foundation and the Financial Reporting Council.
The KPMG recommendations echo those of Ernst & Young, which last week called for the abolition of the Accountancy Foundation, with its responsibilities being transferred to the Financial Reporting Council.
And it appears that the institutes are in agreement. The ACCA has also called for a more joined up approach to regulation saying that a UK-style Enron could still not be ruled out.
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