Finance | £3m fine for PwC over Galliford Try audit failures

PwC has been handed a £3m fine for failures to correctly audit contract agreements for construction giant Galliford Try over a two-year period, resulting in a restatement of accounts

7 Jun 2022

Auditing

Corporate Governance

Finance | PwC fined £1.9m over Kier audit failures

Big Four audit firm PwC has been fined £1.9m over poor audit work for FTSE 250 construction firm Kier for the financial year ended June 2017, relating to long-term contracts

7 Jun 2022

Auditing

Corporate Governance

Finance | What’s the future for internal audit post pandemic?

Internal auditors are facing heightened risks and fraud threats after the difficulties of the pandemic which is changing their role and influence, says Matthew Weitz, associate managing director, Kroll

6 Jun 2022

Auditing

Corporate Governance

| CPD module: Audit materiality explained

In this month’s exclusive Accountancy Daily CPD module we consider the key issues to consider when auditing materiality and how revisions to materiality can affect the audit

6 Jun 2022

Auditing

Finance | FRC to take on local council audit oversight

Changes to local audit will see the new audit regulator, the Audit Reporting and Governance Authority (ARGA), take responsibility for local council and health body audits

31 May 2022

Auditing

Corporate Governance

| FRC given full oversight of auditors

The Financial Reporting Council (FRC) will be given full oversight of auditors, removing the current framework whereby professional bodies are responsible for this

31 May 2022

Auditing

Business

Accountancy Firms

Finance | Green light for audit reform will create powerful regulator

The long-awaited audit reforms will go ahead with the government finally setting out its vision for the profession with plans for shared audit, creation of a more powerful regulator and a move towards director accountability

31 May 2022

Auditing

Corporate Governance

Finance | Audit responsibility: using the work of internal auditors

Lizzie Morris ACA, audit and accounting writer at Croner-i, considers the auditor’s responsibility when undertaking audits of entities with an internal audit function

25 May 2022

Auditing

Corporate Governance

Finance | KPMG fined £3.3m over Rolls-Royce audit

KPMG faces a multimillion pound fine over failures related to the audit of the financial statements of Rolls-Royce for year end December 2010

24 May 2022

Auditing

Corporate Governance

| KPMG fined £14.4m over fake Carillion documents

KPMG faces a multimillion pound fine from the audit regulator over the misconduct of former audit partner and staff for the audits of Carillion and Regenersis

13 May 2022

Auditing

| PSAA upgrades procurement for public sector auditors

Public Sector Audit Appointments (PSAA) has set up a dynamic purchasing system (DPS) that will provide a new route to procure audit services for bodies that have opted to join its national scheme

12 May 2022

Auditing

Finance | Audit reform to go ahead, confirms Queen’s Speech

The government has pledged to go ahead with reform to the audit market with plans to release a draft bill covering a raft of reforms including managed shared audit outlined in the Queen's Speech

10 May 2022

Auditing

Corporate Governance

Finance | Moore Kingston Smith to audit Mattioli Woods

AIM listed Mattioli Woods plc, the specialist wealth and asset management business, has appointed Moore Kingston Smith LLP as group auditor for the financial year ending 31 May 2022

6 May 2022

Auditing

Corporate Governance

Finance | Audit evidence and ISA compliance during Ukraine crisis

As the war in Ukraine continues, Helen MacNeill FCA looks at areas of concern for auditors to consider from impairment of assets to changing forecasts and going concern

4 May 2022

Auditing

Corporate Governance

Finance | Gupta owned steel businesses face audit probe

The Financial Reporting Council (FRC) has opened an investigation into the audits of four companies in the GFG Alliance group by King & King

4 May 2022

Auditing

Corporate Governance