KPMG fined £4.5m over Quindell audit misconduct

Audit KPMG fined £4.5m over Quindell audit misconduct

3y Alia Shoaib, Reporter

KPMG fined £4.5m over Quindell audit misconduct

The firm admitted to two counts of misconduct and said that it "should have gone further" in challenging the scandal-ridden company's accounts Read Mo...

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Deloitte faces disciplinary action over Autonomy accounts scandal

Audit Deloitte faces disciplinary action over Autonomy accounts scandal

3y Alia Shoaib, Reporter

Deloitte faces disciplinary action over Autonomy a...

The FRC has brought disciplinary action against Deloitte auditors over their failure to adequately challenge issues with Autonomy’s accounts, which le...

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FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

3y Alia Shoaib, Reporter

FRC introduces £10m sanctions for Big Four firms

After increased pressure to take a tougher stance against Big Four firms for audit breaches, the FRC has implemented a range of sanctions Read More...

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Deal signed between ICAS and US accounting bodies

Business Deal signed between ICAS and US accounting bodies

3y Lucy Skoulding, Reporter

Deal signed between ICAS and US accounting bodies

The agreement will create opportunities for professionals to work in other countries Read More...

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Financial Power List 2018: 6-10 revealed

Brexit Financial Power List 2018: 6-10 revealed

3y Lucy Skoulding, Reporter

Financial Power List 2018: 6-10 revealed

We reveal who has made positions 6-10 on the Financial Power List 2018 Read More...

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Winfried Bischoff, Chairman, FRC

People In Practice Winfried Bischoff, Chairman, FRC

3y Alia Shoaib, Reporter

Winfried Bischoff, Chairman, FRC

After an extensive career in banking Bischoff became chairman of the FRC in 2014 Read More...

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Top 5 audit fines of 2017

Audit Top 5 audit fines of 2017

3y Alia Shoaib, Reporter

Top 5 audit fines of 2017

This year has seen the FRC cracking down on audit misconduct, handing out a series of record fines to the Big Four firms. Here are some of the biggest...

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The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

3y Carl Johnson, Stephensons

The ‘uncomfortable truth’ behind FRC’s Big Four fi...

Could large fines for the Big Four even the playing field for smaller firms? Read More...

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

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

3y Alia Shoaib, Reporter

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...

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FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

4y Alia Shoaib, Reporter

FRC closes investigation into PwC over Barclays co...

The accountancy watchdog said the investigation was dropped as there was not a 'realistic prospect that a tribunal would make an adverse finding again...

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FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

4y Emma Smith, Managing Editor

FRC closes KPMG HBOS audit investigation, Treasury...

KPMG ‘did not fall significantly short of the standards reasonably to be expected of the audit’, according to the FRC, but the Treasury Committee has ...

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PwC fined a record £5.1m by the FRC over RSM Tenon audit

Audit PwC fined a record £5.1m by the FRC over RSM Tenon audit

4y Alia Shoaib, Reporter

PwC fined a record £5.1m by the FRC over RSM Tenon...

PwC and partner Nicholas Boden have been severely reprimanded and fined over admitted misconduct relating to RSM Tenon audit Read More...

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BDO overtakes KPMG to take top spot in AIM auditor rankings

Accounting Firms BDO overtakes KPMG to take top spot in AIM auditor rankings

4y Alia Shoaib, Reporter

BDO overtakes KPMG to take top spot in AIM auditor...

While BDO tops the list of total AIM clients, PwC triumphs when looking at the aggregate client market-cap Read More...

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Demand for audit skills exceeding supply

Audit Demand for audit skills exceeding supply

4y Alia Shoaib, Reporter

Demand for audit skills exceeding supply

In response to changes in the audit environment, the profession contracted. There is now a gap between supply and demand, with the demand for audit sk...

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Membership of the accountancy profession on the rise

Accounting Standards Membership of the accountancy profession on the rise

4y Alia Shoaib, Reporter

Membership of the accountancy profession on the ri...

Between the years 2012-2016, membership of UK & Ireland accounting bodies grew by 3.2% worldwide and 2.4% in the UK & Ireland, according to th...

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FRC launches investigation into PwC over BT audits

Accounting Firms FRC launches investigation into PwC over BT audits

4y Alia Shoaib, Reporter

FRC launches investigation into PwC over BT audits

The investigation relates to PwC’s audits of the financial statements of BT Group between the years March 2015 and 2017 Read More...

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Which top firms need to improve audit practice?

Accounting Firms Which top firms need to improve audit practice?

4y Alia Shoaib, Reporter

Which top firms need to improve audit practice?

The FRC has conducted research into the audit quality of the top six firms, with PwC coming out on top Read More...

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FRC closes investigation into PwC over Tesco accounts

Accounting Firms FRC closes investigation into PwC over Tesco accounts

4y Alia Shoaib, Reporter

FRC closes investigation into PwC over Tesco accou...

The Financial Reporting Council has announced the closure of an investigation into PwC’s auditing and accounting of Tesco Read More...

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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

4y 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...

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Sports Direct implements FRC corrections in annual reporting

Accounting Standards Sports Direct implements FRC corrections in annual reporting

4y Stephanie Wix, Writer

Sports Direct implements FRC corrections in annual...

Corrective action has been taken by Sports Direct into its international stores reporting, following a review by accounting's watchdog Read More...

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CIIA appoints ex-FRC chief Paul Boyle as president

Company News CIIA appoints ex-FRC chief Paul Boyle as president

4y Stephanie Wix, Writer

CIIA appoints ex-FRC chief Paul Boyle as president

Paul Boyle is appointed as the president of the Chartered Institute of Internal Auditors Read More...

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FRC appoints former ICAEW president to its board

People Practice FRC appoints former ICAEW president to its board

4y Stephanie Wix, Writer

FRC appoints former ICAEW president to its board

Paul Druckman has been appointed to the board of the Financial Reporting Council (FRC) Read More...

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Watchdog launches audit investigation into Sports Direct

Accounting Firms Watchdog launches audit investigation into Sports Direct

4y Stephanie Wix, Writer

Watchdog launches audit investigation into Sports ...

FRC investigates why an arrangement between Sports Direct and Barlin Delivery was not disclosed in the company’s financial statements as a related par...

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Record fine for Deloitte and audit partner over Aero misconduct

Accounting Standards Record fine for Deloitte and audit partner over Aero misconduct

4y Stephanie Wix, Writer

Record fine for Deloitte and audit partner over Ae...

Deloitte has been fined a record £4m and its partner John Clennett fined £150,000 for misconduct regarding Aero Inventory Read More...

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Former Co-operative Bank CFO admits misconduct

Business Regulation Former Co-operative Bank CFO admits misconduct

4y Stephanie Wix, Writer

Former Co-operative Bank CFO admits misconduct

Barry Tootell, a former chief financial officer and chief executive of the Co-operative Bank, has admitted misconduct in a settlement agreement Read M...

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Cashflow statement improvements targeted by watchdog

Accounting Standards Cashflow statement improvements targeted by watchdog

5y Stephanie Wix, Writer

Cashflow statement improvements targeted by watchd...

Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC) Read More...

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FRC expects Brexit narrative within annual reports

Accounting Standards FRC expects Brexit narrative within annual reports

5y Stephanie Wix, Writer

FRC expects Brexit narrative within annual reports

The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted...

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