Although the Department for Education (DfE) has improved its accounting for the academy schools sector in England, the National Audit Office (NAO) has qualified the accounts for the year ended 31 August 2016 on the grounds the department was unable to provide adequate evidence to support the £45bnn of land and buildings included

The Financial Reporting Council (FRC) is now better equipped to take enforcement action over audit failures, according to chief executive Stephen Haddrill

Following a consultation on the role of the auditor in preliminary announcements, the Financial Reporting Council (FRC) has indicated it will make only minor amendments to existing guidance, but has raised concerns around the use of alternative performance measures (APMs)

The Securities and Exchange Commission (SEC) has approved a new auditing standard, marking the first significant change to the auditor’s report in more than 70 years, but has highlighted concerns over the communication of critical audit matters and the disclosure of auditor tenure

The International Auditing and Assurance Standards Board (IAASB) has issued an update on the work being undertaken by its group audits taskforce on the revised international standard on auditing (ISA) 600, Special Considerations‒Audits of Group Financial Statements

In part one of a three-part series, Chartered Institute of Internal Auditors chief professional practices advisor Liz Sandwith outlines the purpose and scope of internal audit and looks at how it can benefit the governance of organisations more widely

The European Court of Auditors is to conduct an audit on how the European Commission manages the risk of fraud in EU spending, in response to concerns that not enough is being done to tackle the issues

The regulation of audit after the completion of Brexit may need to be recognised as equivalent by the EU in order for UK firms’ work to be accepted, the Financial Reporting Council (FRC) has admitted

PwC has lost another longstanding FTSE 100 audit client as Brazilian chemical company Croda International has announced KPMG will take over the audit from PwC for year end 2018

EY has been reprimanded and fined £1.8m, reduced from £2.75m, after admitting misconduct in relation to the audit of the financial statements of Tech Data Ltd (formerly known as Computer 2000 Distribution Ltd), for the financial year ended 31 January 2012, following an investigation by the Financial Reporting Council (FRC)

The decision by the Financial Reporting Council (FRC) to abandon its investigation of KPMG’s audit of HBOS has been heavily criticised but the audit profession has mounted a defence albeit raising questions about the future of the regulator. Calum Fuller reports

The general public must be informed of national and EU auditors’ work and their findings, and recommendations should be accessible and understandable by as many people as possible, the head of the French national audit office has said while attending a conference in Luxembourg to mark the 40th anniversary of the European Court of Auditors