Nearly half of Mazars audits inspected in the current AQI round required improvements while efforts to turn around the performance of audit teams was taking longer than expected
In this week’s accountancy career moves, partner promotions and hires at Blick Rothenberg, Cowgills, EY, Grant Thornton, Grunberg & Co, Mercer & Hole, PKF Littlejohn, Simmons Gainsford, SRLV
Two Malta based employment agencies with the same director, Vision HR Solutions and Veqta, have been called out by HMRC for paying staff tax-free with convoluted contracts of employment
All the Grant Thornton audits inspected in this year’s AQI were judged to require no more than limited improvements, but the mid-tier firm will be relegated to Tier 2 in the audit inspection process as its share of listed audit business has dropped
A quarter of audits of listed companies are still failing to meet standards set by the Financial Reporting Council (FRC) with criticism of audit of revenue recognition and a failure to challenge management
BDO came under fire for the quality of audit work in the latest FRC inspection round with two audits requiring significant improvements over revenue and journal testing, while staffing issues also were a factor
The former owner of Lancashire based Fleetwood Town Football Club has been given a 13-year jail sentence after masterminding a £15m electricity contract fraud
Only three inspected audits required limited improvements as PwC continued to invest in audit quality and addressed issues around revenue recognition, but potential conflicts of interest were flagged
Deloitte improved the quality of audit work across the board with no audits requiring significant improvements although there were some issues related to revenue recognition in the annual audit quality inspection (AQI) cycle
The gold trader has lost an appeal at the High Court over whether supplies of gold bullion should be treated as exempt, rather than zero-rated, from VAT
EY made overall improvements in the quality of its audit work this year, but revenue recognition and management challenges still need to be tackled as well as workload
KPMG was the only Big Four firm to be flagged over an audit requiring significant improvement with three quarters of audits meeting the quality standard set by FRC inspectors
Sophie Brookes and Debbie Shaw of Gateley examine voting rights for directors and shareholders in Hikari, breach of statutory duties in Shell, and revised insider dealing rules
This month's exclusive Accountancy Daily CPD module provides a review of the tax issues to consider when converting from sole trader status to limited company
The government has launched a local government body responsible for identifying financial problems in councils earlier and strengthening accountability
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