KPMG handed record fine over audit failures in Carillion demise

Audit KPMG handed record fine over audit failures in Carillion demise

5m Greg Noble

KPMG handed record fine over audit failures in Car...

KPMG was initially fined £30 million, but the penalty was subsequently decreased by 30% due to its cooperation throughout the five-year investigation ...

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Audit sector can tackle Big Four dominance through collaboration, experts say

Audit Audit sector can tackle Big Four dominance through collaboration, experts say

5m Dan Cave

Audit sector can tackle Big Four dominance through...

Fines, regulatory oversight and greater investigations are sparking worries that sector control by giants will continue Read More...

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Audit reform omission shows it is ‘not a priority’ for government

Audit Audit reform omission shows it is ‘not a priority’ for government

7m Greg Noble

Audit reform omission shows it is ‘not a priority’...

Ministers had committed to overhauling the audit and corporate governance systems in response to scandals at companies like retailer BHS in 2016 and P...

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Audit scandals rendering profession ‘unattractive’ to newcomers

Accounting Firms Audit scandals rendering profession ‘unattractive’ to newcomers

7m Greg Noble

Audit scandals rendering profession ‘unattractive’...

The FRC has overseen a major uptick in audit enforcement activity recently, with the regulator issuing fines of £33.3m in 2022, a 77% increase from th...

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Audit teams must collaborate to weather economic storm, experts say

Audit Audit teams must collaborate to weather economic storm, experts say

8m Greg Noble

Audit teams must collaborate to weather economic s...

33% of organisations have incorporated auditing measures to enhance resiliency against macroeconomic uncertainty into their regular audit practices Re...

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KPMG and PwC sanctioned by FRC for Eddie Stobart audits

Accounting Firms KPMG and PwC sanctioned by FRC for Eddie Stobart audits

9m Greg Noble

KPMG and PwC sanctioned by FRC for Eddie Stobart a...

After cooperating with the inquiry, the firms and partners received a reduction in fines Read More...

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The crucial role of auditors and accountants in the climate change fight

Audit The crucial role of auditors and accountants in the climate change fight

9m Simon Konsta, Disputes partner, DAC Beachcroft

The crucial role of auditors and accountants in th...

With climate litigation on the rise, boardroom behaviour must adapt - accountants and auditors are central to this Read More...

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FRC minimum standard for audit committees ‘a step in the right direction’

Audit FRC minimum standard for audit committees ‘a step in the right direction’

10m Greg Noble

FRC minimum standard for audit committees ‘a step ...

But it may not be the solution to building consistently high-quality audits Read More...

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FRC to investigate Deloitte’s audit of Joules

Audit FRC to investigate Deloitte’s audit of Joules

10m Greg Noble

FRC to investigate Deloitte’s audit of Joules

The investigation comes six months after Deloitte were hit with a £1.25m fine Read More...

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Professional scepticism requires ‘right’ culture

Accounting Firms Professional scepticism requires ‘right’ culture

11m Greg Noble

Professional scepticism requires ‘right’ culture

Hill says the main issue regarding professional scepticism is human behaviour, particularly when working towards tight deadlines and budgets Read More...

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KPMG sanctioned for ‘rudimentary’ failings over The Works audit

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

11m 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...

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FRC initiates investigation into EY's audit of Made.com

Accounting Firms FRC initiates investigation into EY's audit of Made.com

11m Greg Noble

FRC initiates investigation into EY's audit of Mad...

This is the second investigation the FRC has commenced into audits by EY this week Read More...

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EY split timeline: The abandoned break-up plan

Audit EY split timeline: The abandoned break-up plan

11m Sam Alberti

EY split timeline: The abandoned break-up plan

After years of deliberations and millions of dollars spent, EY has officially pulled the plug on its greatly anticipated break-up plan Read More...

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Carillion scandal highlights lack of ‘real competitors’ in UK audit

Audit Carillion scandal highlights lack of ‘real competitors’ in UK audit

1y Sam Alberti

Carillion scandal highlights lack of ‘real competi...

KPMG's settlement of the £1.3bn legal claim highlights longstanding weaknesses in the audit sector, experts say Read More...

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Mazars: ‘Accounting issue’ to blame for local authority audit delays

Audit Mazars: ‘Accounting issue’ to blame for local authority audit delays

1y Sam Alberti

Mazars: ‘Accounting issue’ to blame for local auth...

Challenges with the valuation of infrastructure assets have proven to be a key barrier for audit firms Read More...

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FRC chief to stand down amid “pivotal” time for audit reform

Audit FRC chief to stand down amid “pivotal” time for audit reform

1y Sam Alberti

FRC chief to stand down amid “pivotal” time for au...

Sir Jon Thompson will begin leading the HS2 project with immediate effect Read More...

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Tech update: QuickBooks and iwoca join forces

Technology Tech update: QuickBooks and iwoca join forces

1y Sam Alberti

Tech update: QuickBooks and iwoca join forces

The partnership has produced a first of its kind B2B buy now, pay later solution Read More...

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Just 12% of local authority audits completed on time, data suggests

Audit Just 12% of local authority audits completed on time, data suggests

1y Sam Alberti

Just 12% of local authority audits completed on ti...

The NAO has warned that these figures pose a threat to accountability in local government Read More...

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Tech update: Help to Grow Digital scheme to wind down

Technology Tech update: Help to Grow Digital scheme to wind down

1y Sam Alberti

Tech update: Help to Grow Digital scheme to wind d...

The scheme will close to new business applications on February 2 Read More...

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Deloitte hit with £1.25m FRC fine over SIG audit

Accounting Firms Deloitte hit with £1.25m FRC fine over SIG audit

1y Sam Alberti

Deloitte hit with £1.25m FRC fine over SIG audit

The Big Four firm was found guilty of breaches in relation to cash and the audit of supplier rebates Read More...

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A4S Summit 2022: Audit key to mitigating greenwashing

Accounting Firms A4S Summit 2022: Audit key to mitigating greenwashing

1y Greg Noble

A4S Summit 2022: Audit key to mitigating greenwash...

Audit is integral to tackling greenwashing in global markets, according to industry experts   Read More...

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Top 50+50 2022: Data highlights significant fee income growth across the industry due to increased client demand

Audit Top 50+50 2022: Data highlights significant fee income growth across the industry due to increased client demand

1y Greg Noble

Top 50+50 2022: Data highlights significant fee in...

The wider UK economy continues to struggle in the wake of the pandemic, but increased client demand for accounting and advisory services saw firms rep...

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FRC introduces new measures to support smaller audit firms and ‘improve competition’

Audit FRC introduces new measures to support smaller audit firms and ‘improve competition’

1y Greg Noble

FRC introduces new measures to support smaller aud...

The audit regulator announced new supervisory measures to help smaller audit firms grab market share Read More...

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Q&A: Mazars audit partner Andrew Jones

Accounting Firms Q&A: Mazars audit partner Andrew Jones

1y Greg Noble

Q&A: Mazars audit partner Andrew Jones

Accountancy Age spoke with Mazars’ newly appointed audit partner, Andrew Jones, who outlined his reasoning behind taking the role and what he believes...

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FRC to address ‘failing audit market’ with competitiveness measures

Audit FRC to address ‘failing audit market’ with competitiveness measures

1y Sam Alberti

FRC to address ‘failing audit market’ with competi...

The Financial Reporting Council (FRC) has unveiled plans to stimulate competition and resilience in the UK audit market, with a view to remedying the ...

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Tech update: Dext to release MTD ITSA solution

Technology Tech update: Dext to release MTD ITSA solution

1y Sam Alberti

Tech update: Dext to release MTD ITSA solution

The move will “simplify and automate” workflows for small businesses Read More...

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Audit reform causing work to ‘cascade down’ through the market

Audit Audit reform causing work to ‘cascade down’ through the market

1y Paul Hanaphy

Audit reform causing work to ‘cascade down’ throug...

Industry leaders say audit changes are already creating opportunities for mid-tier firms Read More...

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