Finance | Saffery hired for £180k AIM audit

AIM listed CEPS plc has appointed Saffery LLP as the group’s auditor following a formal tender process 

5 Aug 2024

Finance

Auditing

Corporate Governance

Finance | December deadline to sign off overdue local authority audits

Local authorities have been given less than five months to get auditor sign-off for the devastating backlog of 80% of 2022-23 audits as government takes swift action to get on top of unacceptable backlog

1 Aug 2024

Finance

Auditing

Audit Regulations

Public Sector

Finance | AQI 2024: Forvis Mazars audit work must improve ‘significantly’

Over half of Forvis Mazars audits failed to meet the required quality standard in the annual audit quality inspection (AQI) round with one needing significant improvement

31 Jul 2024

Finance

Auditing

Corporate Governance

Finance | AQI 2024: BDO criticised for ‘deteriorating’ audit quality

Nearly two thirds of BDO audits failed to pass the annual audit quality inspection (AQI) round with fundamental, long-term problems with the quality of work  

31 Jul 2024

Finance

Auditing

Corporate Governance

Finance | AQI 2024: KPMG makes 'notable' turnaround in audit work

KPMG has overhauled its audit business after intensive remedial action in the last three years, with FRC inspectors noting a consistent improvement in audit work

30 Jul 2024

Finance

Auditing

Corporate Governance

Finance | AQI 2024: EY needs to focus on audit consistency

EY needs to develops its use of effectiveness measures to ensure it maintains a high level of audit quality and maintains consistency in audit work

30 Jul 2024

Finance

Auditing

Corporate Governance

Finance | AQI 2024: PwC audit teams need to avoid inconsistency

PwC must pay closer attention to ethical conduct in order to maintain its usual high audit quality on complex, non high risk audit work 

30 Jul 2024

Finance

Auditing

Corporate Governance

Finance | AQI 2024: Deloitte must avoid potential conflicts of interest

Deloitte outperformed other Big Four firms but needs to improve global conflict management system

30 Jul 2024

Finance

Auditing

Corporate Governance

Finance | Regulator slates auditors at BDO and Forvis Mazars

Mid-tier firms BDO and Forvis Mazars have been heavily criticised by the regulator in the annual AQI for the quality of their audit work, which fell ‘significantly below expectations’

30 Jul 2024

Finance

Auditing

Corporate Governance

Finance | Audit firms landed with £33m in fines for misconduct

A record £33.1m in sanctions was issued to UK audit firms in the last 12 months for failures related to audit work with 11 partners fined

25 Jul 2024

Finance

Auditing

Corporate Governance

Finance | Braime hires Azets for £120k listed audit

Listed engineering manufacturer Braime Group plc has appointed Azets as statutory audit replacing Kirk Newsholme after more than a decade in post

25 Jul 2024

Finance

Auditing

Corporate Governance

Finance | Number of FRC audit investigations down by a third

Probes into misconduct by audit firms was down from a high of 52 in autumn 2021 to 35 outstanding cases in March 2024

24 Jul 2024

Finance

Auditing

Corporate Governance

Finance | ICAEW to fund audit body to restore trust in auditors

The Centre for Public Interest Audit (CPIA) has been set up and funded by ICAEW to improve trust in the audit profession and enhance audit quality

22 Jul 2024

Finance

Auditing

Corporate Governance

Finance | FRC will be replaced by powerful audit regulator

As headlined in the King’s Speech, Labour will move swiftly to reform audit and create a more robust regulator with oversight of audit at large private companies and powers to sanction directors

17 Jul 2024

Finance

Auditing

Corporate Governance

Tax | Audit reform given green light in King’s Speech

In a King’s Speech packed with 40 bills, reform of audit and corporate governance was one of the first issues mentioned by King Charles

17 Jul 2024

Tax

Politics

Finance

Auditing

Corporate Governance