Auditing

Image for regulator raps bdo over unacceptable audit quality

Finance | Regulator raps BDO over ‘unacceptable’ audit quality

Regulator raps BDO over audit quality, PwC, Deloitte and Forvis Mazars pulled up over ethics issues, KPMG outperforms in new-look FRC audit quality review

22 Jul 2026

Image for pwc fined ps32m numerous failings more babcock audits

Finance | PwC fined £3.2m for ‘numerous’ failings in more Babcock audits

Regulator fines PwC and lead partner £3.2m for ‘serious and numerous’ breaches from lack of professional scepticism to failure to challenge management in two further audits for engineering giant Babcock

16 Jul 2026

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Finance | Barratt Redrow hires EY for £3.3m audit

Housebuilder Barratt Redrow swaps auditor after nearly 20 years with current Big Four firm following mega merger

14 Jul 2026

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Finance | Audit Wales issues Code of Audit Practice 2026

Audit Wales releases Code of Audit Practice 2026, strengthening focus on proportionality, risk-based approach and importance of auditor ethics

13 Jul 2026

Finance | Mazars fined £610k for ‘pervasive’ audit failures

Regulator slams Forvis Mazars and partner with seven-figure fines before discounts for ‘numerous, serious and pervasive failings’ related to ‘flawed’ Studio Retail Group audit before business sold in pre-pack deal

7 Jul 2026

Image for guidance auditors clients trading pisces platform

Finance | Guidance for auditors with clients trading on PISCES platform

FRC issues guidance on auditor independence requirements for PISCES-traded companies as set out in the Ethical Standard

2 Jul 2026

Audit Regulations

Image for frc removes unnecessary parts auditors reports

Finance | FRC removes ‘unnecessary’ parts of auditor’s reports

The Financial Reporting Council (FRC) removes ‘unnecessary’ information with ‘little value’ from auditor’s reports with revisions to three auditing standards

24 Jun 2026

Financial Reporting

Image for gupta auditor fined ps326k egregious lack objectivity

Finance | Gupta auditor fined £326k for ‘egregious’ lack of objectivity

Regulator fines and bans audit firm King & King and owner partner for audit and ethics failures on work for multiple Gupta owned companies, including Liberty Steel

23 Jun 2026

Finance | FRC shakes up enforcement to identify audit failures faster

Regulator overhauls audit enforcement procedure to speed up action on poor audit work and take more robust action on serious or significant failures from July

18 Jun 2026

Finance | Council audit crisis ‘intolerable,’ says incoming LAO chief

CIPFA qualified candidate for Local Audit Office says Audit Commission was ‘a very different beast,’ pledging closer ties to FRC and ICAEW

18 Jun 2026

Public Sector

Image for mha quits bait audit over use independent expert

Finance | MHA quits BAIT audit over use of independent expert

Listed audit firm MHA resigns as auditor of British & American Investment Trust after company says it was ‘unnecessary’ to use an independent expert to value film rights

15 Jun 2026

Image for frc launches major investigation audit firms after mfs collapse

Finance | FRC launches major investigation into audit firms after MFS collapse

Trio of auditors of collapsed property loan business Market Financial Solutions (MFS) face multi-pronged investigation by regulator over individual conduct and audit work

11 Jun 2026

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Finance | FRC to investigate accountant over P&O Ferries audit

Regulator launches investigation into the conduct of an individual member accountant over information provided to Big Four auditor of P&O Ferries Division Holdings Limited

10 Jun 2026

Image for pwc faces investigation work ps16m wh smith audit

Finance | PwC faces investigation into work on £1.6m WH Smith audit

Regulator to investigate PwC for audit work related to the financial statements of WH Smith for FY24, the year before a £30m revenue recognition error

9 Jun 2026