Finance | FRC changes publication policy on audit enforcement

The Financial Reporting Council (FRC) has made changes to its publication policies for the Audit Enforcement Procedure (AEP) and the Accountancy and Actuarial Schemes

27 Apr 2022

Auditing

Corporate Governance

Finance | Regulator plans tougher oversight of audit firms

The Financial Reporting Council (FRC) has published a new Audit Firm Governance Code for the Big Four and firms that audit more than 20 FTSE 350 companies and public interest entities (PIEs)

13 Apr 2022

Auditing

Corporate Governance

Finance | Deloitte resigns as Polymetal auditor

Big Four audit firm Deloitte has resigned as Polymetal auditors due to the mining company’s Russian business interests

8 Apr 2022

Auditing

Corporate Governance

Finance | Results delayed as PwC does not sign off audited accounts

AIM listed S4 Capital plc has delayed its annual results due to auditors, PwC refusing to sign off the accounts

31 Mar 2022

Auditing

Corporate Governance

| Internal audit teams invest in data analytics

The majority of senior internal audit leaders and their teams have completed or are currently undertaking initiatives to transform their internal audit function

17 Mar 2022

Auditing

Business

Companies

AI & Technology

Finance | KPMG fined £87k over Revolution Bars audit errors

Big Four firm KPMG and a former audit director have been fined over £900,000 for audit failures relating to listed Revolution Bars Group

8 Mar 2022

Auditing

Corporate Governance

| FRC consults on changes to public sector audit partners

The Financial Reporting Council (FRC) is consulting on proposals to extend access to key audit partners working in local audit, changing the rules of entry, to increase competition

2 Mar 2022

Auditing

Finance | Preparing for new audit quality requirements - ISQM (UK) 1

Helen MacNeill FCA examines the new quality management standards, focusing on ISQM (UK) 1, effective from December 2022 and what it means for audit firms

2 Mar 2022

Auditing

Corporate Governance

Audit Regulations

Finance | FRC issues guidance on auditor duties on climate reporting

The Financial Reporting Council (FRC) has published a guidance note on auditor responsibilities under ISA (UK) 720 in respect of climate related reporting by companies required by the Financial Conduct Authority (FCA)

15 Feb 2022

Auditing

Corporate Governance

| FRC launches audit probe into Liberty Commodities

The Financial Reporting Council (FRC) has launched an investigation into HW Fisher's audit of Liberty Commodities which is part of metal tycoons Sanjeev Gupta’s GFG Alliance

10 Feb 2022

Auditing

Finance | Grant Thornton quits as DX Group auditor

Mid tier auditor Grant Thornton has resigned as auditor of AIM listed logistics company DX Group over concerns about a corporate governance inquiry

7 Feb 2022

Auditing

Corporate Governance

| KPMG sued for £1.3bn over Carillion audit

KPMG is being sued for £1.3bn by the Official Receiver over its role as auditor to collapsed contractor Carillion

4 Feb 2022

Auditing

| Key issues for 2021 year-end audits

Kate Beeston ACA and Helen MacNeill FCA set out the key issues for 2021 year-end audits, which includes the continued impact of Covid-19, accounting estimates and future audit developments, including ISQM (UK) 1

19 Jan 2022

Auditing

| Looking for a career change? Senior technical writer opportunity

Croner-i is a market-leading provider of information services and solutions for professionals in accounting, audit, tax, H&S and business and is looking for a senior technical writer specifically for audit content

13 Jan 2022

Auditing

Business

Careers

| Local audit deadline extended to tackle late filing

The government is responding to poor performance in the local and public body audit sector with plans to address the long-running failure to complete audits on time

5 Jan 2022

Auditing