The Financial Services Authority has warned that banks’ ‘fair value’ of
assets could differ from figures arrived for accounting and regulatory purposes.
The conclusions are a result of round table meetings with banks and firms to
discuss audits as part of its monitoring of the valuation techniques being used.
The rules remain un-changed, however the FSA has warned banks to be extra
careful in their valuations, the FT reported.
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
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