The Financial Reporting Council (FRC) has issued the minimum standards of conduct for audit committees within the FTSE 350 to help contribute to a more robust audit market
MPs called on local audit specialists and the regulator to take swift action to address the backlog in overdue local government audits and improve transparency of accounts
EY has been fined €500,000 for audit failures related to the collapse of payments company Wirecard and has been banned from taking on new listed audits in Germany for two years
The Institute of Internal Auditors (IIA) is consulting on proposed changes to framework for the internal audit standards with a focus on ethics and scepticism
The Levelling Up, Housing and Communities (LUHC) Committee has launched an inquiry into financial reporting and audit in local authorities as the majority of audits are filed late and more councils declare financial failings
Cybersecurity company Darktrace has hired EY to review its finances and accounting practices after an investment fund questioned the credibility of the financial results
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