Also the chair of KPMG’s assurance technical committee, Kellas has served on the IAASB and its predecessor since October 2000. He also co-chaired a taskforce of the IAASB and US Auditing Standards Board. ‘Kellas has the experience and integrity to chair the IAASB,’ said IFAC president Rene Ricol.
- Hollinger International has asked auditor KPMG to assess the proper accounting treatment of repayments to the group to be made next year by board directors. Lord Black, former CEO of Hollinger, along with other directors, received non-competition payments totalling £19m. According to a statement by Hollinger, the payments had not been approved by the group’s board or audit committee and had not been properly disclosed to investors. Hollinger’s audit committee and ‘special committee’ have determined £19m in unauthorised ‘non-competition payments’ were made during 1999 to 2001.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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