FRC says volume of Tier 2 and 3 audit firms requiring improvement is 'unacceptable'

Accounting Standards FRC says volume of Tier 2 and 3 audit firms requiring improvement is 'unacceptable'

3m Accountancy Age, Reporters

FRC says volume of Tier 2 and 3 audit firms requir...

38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...

View article
FRC: Financial reporting quality 'vital' amid economic turbulence

Economy FRC: Financial reporting quality 'vital' amid economic turbulence

5m Greg Noble

FRC: Financial reporting quality 'vital' amid econ...

Continuing econonmic uncertainty serves as a reminder to businesses that consistent, high-quality financial reporting is more important than ever, a F...

View article
NAO to probe FCA over its effectiveness

Regulatory Bodies NAO to probe FCA over its effectiveness

8m Greg Noble

NAO to probe FCA over its effectiveness

The review is understood to include examining the FCA’s governance, strategy, and culture and well as its approach to regulating diverse types of firm...

View article
Get the latest analysis and reports delivered to your inbox daily
KPMG sanctioned for ‘rudimentary’ failings over The Works audit

Audit KPMG sanctioned for ‘rudimentary’ failings over The Works audit

10m Greg Noble

KPMG sanctioned for ‘rudimentary’ failings over Th...

The FRC has said the admitted failings were "rudimentary and should not have occurred" Read More...

View article
SME accountants at risk of being left behind amid sustainability surge, cautions IFA

Accounting Standards SME accountants at risk of being left behind amid sustainability surge, cautions IFA

11m John Edwards

SME accountants at risk of being left behind amid ...

Administrative pressures should not deter accountants from upskilling around sustainability, argues IFA chief executive, John Edwards Read More...

View article
Accountants sceptical as government pledges to regulate umbrella industry

Business Regulation Accountants sceptical as government pledges to regulate umbrella industry

12m Sam Alberti

Accountants sceptical as government pledges to reg...

Plans to establish a Single Enforcement Body have resurfaced having been reportedly shelved last year Read More...

View article
Exam cheating can become a ‘big issue’ if not appropriately addressed

Accounting Firms Exam cheating can become a ‘big issue’ if not appropriately addressed

1y Greg Noble

Exam cheating can become a ‘big issue’ if not appr...

The accountancy industry has been hit by several exam cheating cases over the last few years Read More...

View article
FRC confirms overhaul of UK corporate governance code

Corporate Governance FRC confirms overhaul of UK corporate governance code

2y Sam Alberti

FRC confirms overhaul of UK corporate governance c...

The first update to the UK Corporate Governance Code in four years will see the creation of a stronger framework for reporting on internal controls an...

View article
FRC launches investigation into Lookers audit

Big Four FRC launches investigation into Lookers audit

3y Aoife Morgan

FRC launches investigation into Lookers audit

Regulatory body has launched an investigation into Deloitte’s auditing practices for the years ending 2017 and 2018 Read More...

View article
What accountants need to know about AML

Practice Regulation What accountants need to know about AML

3y Ed Molyneux, CEO

What accountants need to know about AML

Money laundering is a growing concern for businesses and governments around the world. Accountants play a crucial role in preventing money laundering ...

View article
ACCA director: Cost of insolvency regulation unsustainable

Insolvency ACCA director: Cost of insolvency regulation unsustainable

3y Aoife Morgan

ACCA director: Cost of insolvency regulation unsus...

Association relinquishing RPB authority Read More...

View article
Accounting bodies call for improved reporting on UN's SDG

Green Accounting bodies call for improved reporting on UN's SDG

4y Leanna Reeves

Accounting bodies call for improved reporting on U...

The revised version of the Sustainable Development Goals Disclosure (SDGD) demands firms to further include sustainable development risks within their...

View article
SAIs: strengthening the government audit function internationally

Governance SAIs: strengthening the government audit function internationally

4y Salema Hafiz, CIPFA, International Acting Divisional Director

SAIs: strengthening the government audit function ...

SAIs are essential for good governance in any country. In addition to holding their government to account by scrutinising the legality and accuracy of...

View article
‘Status, scope and skills of internal audit’ must be increased says Chartered IIA

Audit ‘Status, scope and skills of internal audit’ must be increased says Chartered IIA

4y Paul Hanaphy

‘Status, scope and skills of internal audit’ must ...

Major accountancy bodies support new code after string of audit-related business collapses in recent years. Read More...

View article
Loan Charge reforms backed by independent review and HMRC

HMRC Loan Charge reforms backed by independent review and HMRC

4y Shannon Moyer

Loan Charge reforms backed by independent review a...

Sir Amyas Morse’s independent review into the Loan Charge includes a series of middle-ground reforms which aim to balance taxpayers’ responsibility al...

View article
Audit quality: Why do FRC fines keep increasing?

Regulatory Bodies Audit quality: Why do FRC fines keep increasing?

4y Leanna Reeves

Audit quality: Why do FRC fines keep increasing?

As the value of fines on audit firms issued by the FRC increases, experts reflect on why the regulator’s approach has changed and how this has impacte...

View article
FRC extends Thomas Cook investigation to more statements audited by EY

Accounting Firms FRC extends Thomas Cook investigation to more statements audited by EY

4y Chris Jewers

FRC extends Thomas Cook investigation to more stat...

The UK’s audit and accountancy watchdog has announced it will expand its investigation into EY’s auditing of Thomas Cook’s financial statements to inc...

View article
FRC revises standards in bid to strengthen audit confidence

Accounting Standards FRC revises standards in bid to strengthen audit confidence

4y Chris Jewers

FRC revises standards in bid to strengthen audit c...

The FRC has issued revised ethical and auditing standards in an effort to strengthen auditor independence and ban conflicts of interest. Read More...

View article
Treasury committee requests review into ‘broken’ business rates

Governance Treasury committee requests review into ‘broken’ business rates

4y Chris Jewers

Treasury committee requests review into ‘broken’ b...

AAT specifically referenced in Treasury Select Committee’s report into business rates, which has requested the government to review the system and fin...

View article
VATGlobal launches European VAT information portal vlearn

Brexit & Economy VATGlobal launches European VAT information portal vlearn

4y Leanna Reeves

VATGlobal launches European VAT information portal...

To promote regulatory knowledge, the new platform ‘vlearn’ is the first key central repository for EU VAT information for businesses to use themselves...

View article
FRC launches investigation into EY's Thomas Cook auditing

Big Four FRC launches investigation into EY's Thomas Cook auditing

4y Shannon Moyer

FRC launches investigation into EY's Thomas Cook a...

Following the collapse of Thomas Cook, the regulatory body has launched an investigation into EY's auditing practices within the travel company for th...

View article
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

6y Accountancy Age

FRC urged to fine Big Four firms penalties over £1...

An independent review suggested fines of £10m or over would be appropriate in instances of “seriously poor” audit work Read More...

View article
FCA fines Merrill Lynch £34.5m over reporting failures

Business Regulation FCA fines Merrill Lynch £34.5m over reporting failures

6y Accountancy Age

FCA fines Merrill Lynch £34.5m over reporting fail...

This is the first enforcement action against a business by the watchdog over failing to report transactions of this kind Read More...

View article
Treasury Select Committee report released on Making Tax Digital

Accounting Standards Treasury Select Committee report released on Making Tax Digital

7y Stephanie Wix, Writer

Treasury Select Committee report released on Makin...

Committee expresses concern about costs to businesses and April 2018 implementation date Read More...

View article
ACCA and Morison KSi sign global MOU

Accounting Standards ACCA and Morison KSi sign global MOU

7y Stephanie Wix, Writer

ACCA and Morison KSi sign global MOU

ACCA and Morison KSi have signed a global Memorandum of Understanding (MOU) to raise accountancy profession standards Read More...

View article
HMRC cuts over 150 offices to reduce running costs

Corporate Tax HMRC cuts over 150 offices to reduce running costs

7y Stephanie Wix, Writer

HMRC cuts over 150 offices to reduce running costs

Drastically fewer offices for HMRC in the hope to reduce their running costs Read More...

View article
Ex-RSM Tenon CEO fined; ex-FD and PwC face complaints over its accounting

Accounting Standards Ex-RSM Tenon CEO fined; ex-FD and PwC face complaints over its accounting

7y Kevin Reed, Writer

Ex-RSM Tenon CEO fined; ex-FD and PwC face complai...

Former RSM Tenon CEO Andy Raynor fined and reprimanded over its accounting, with both its former FD and auditor PwC facing complaints from the FRC Rea...

View article
1 2 3 19