Finance | PwC fined £2.9m for audit of collapsed Wyelands Bank

The regulator has fined PwC nearly £3m for poor audit work on the Gupta owned Wyelands Bank after failing to assess risk levels, going concern and related party transactions

25 Mar 2025

Finance

Auditing

Corporate Governance

Finance | Directors should be held accountable, says audit regulator

Audit regulator calls for tougher rules to make directors liable for accounting and audit failures, instead of just the auditors

20 Mar 2025

Finance

Auditing

Audit Regulations

Finance | Local authority accounts slated as ‘closed book’

Government accounts fail to provide transparency on the real financial position of local authorities, continually breach audit sign-off deadlines and ignore long-term financial risks, warns PAC

19 Mar 2025

Finance

Auditing

Corporate Governance

Finance | FRC tries to placate SME auditors with basic guidance

As part of a campaign to help smaller companies access audit services, the regulator has published the first in a series of SME audit guides

19 Mar 2025

Finance

Auditing

Corporate Governance

Finance | MacIntyre Hudson faces FRC probe over ISG audit

The Financial Reporting Council is investigating the work of auditor MacIntyre Hudson LLP for the audit of collapsed construction and engineering company ISG

18 Mar 2025

Finance

Auditing

Corporate Governance

Finance | EY faces FRC investigation over unnamed listed audit

The Financial Reporting Council (FRC) has started an investigation into a number of audits carried out by EY in 2021-22

13 Mar 2025

Finance

Auditing

Corporate Governance

Finance | Calculus VCT flips £72k audit again to MHA

Listed fund manager Calculus VCT plc has changed auditors for the second time in as many years with the appointment of MHA

12 Mar 2025

Finance

Auditing

Corporate Governance

Finance | KPMG UK fined £460k for audit disclosure breaches

The US regulator has fined nine KPMG firms, including the UK, a total of $3.37m (£2.6m) for failure to accurately disclose who performed audits

12 Mar 2025

Finance

Auditing

Corporate Governance

Finance | Brexit dividend sees pay reporting for companies simplified

The government is simplifying the complex rules on directors’ remuneration reporting to remove duplication due to EU Directives which are not needed post Brexit, and bringing in a limited tender exemption on non audit services 

5 Mar 2025

Finance

Financial Reporting

Law and Regulation

Auditing

Audit Regulations

Corporate Governance

Finance | Bitcoin miner hires PKF Littlejohn for £18k audit

Listed Bitcoin mining company Vinanz has changed its auditors to PKF Littlejohn LLP as it needs north American reach

4 Mar 2025

Finance

Auditing

Corporate Governance

Finance | TT delays results as Deloitte needs more time on audit

Listed engineering group TT Electronics plc has delayed release of annual results as auditor Deloitte needs more time to complete £2m audit

26 Feb 2025

Finance

Auditing

Audit Consultations

Finance | Simplifying SME audits ‘obvious to all… except regulator’

Audit firms have been bogged down in audit regulations for years, with several organisations calling for a simplified audit process for SMEs despite fears UK regulator will not adopt new standard

26 Feb 2025

Finance

Auditing

Audit Consultations

Audit Regulations

Finance | Do you know how to use the IF formula in Excel?

Anand Singh ACA sets out useful hints and tips for using the IF formula in Excel to identify returns values for true and false

26 Feb 2025

Finance

Financial Reporting

Auditing

Finance | Syme hires BGM after Crowe quits £136k audit

Listed fintech business Syme has hired a new auditor after Crowe resigned due to concerns about risks related to the audit

19 Feb 2025

Finance

Financial Reporting

Auditing

Corporate Governance

Finance | Local audit oversight reverts to government control

The government has taken back oversight of local audit from the Financial Reporting Council with director of local audit taking external advisor role at MHCLG

17 Feb 2025

Finance

Financial Reporting

Auditing

Audit Regulations

Corporate Governance

Public Sector