EY has been chosen as external auditor of multinational oil and gas exploration company Tullow Oil, replacing Deloitte which has held the role since 2002

Deloitte is to take over as auditor of FTSE 100 building firm CRH, replacing EY which has held the post since 1988, in win set to bring in fee income of around €20m (£17m)

The Financial Reporting Council (FRC) will be closed and replaced with a new audit regulator following criticism of their effectiveness of the existing organisation following a string of audit scandals at major listed companies

The government is passing substantive legislative changes to Companies Act 2006 (CA 2006) via statutory instrument and has issued guidance letters for accountants and auditors with advice on how to operate cross-border in the event of a no deal Brexit. James Waller CA, technical writer at Croner-i Tax and Accounting, explains the key considerations

Aston Martin has announced the appointment of EY as its auditor, after KPMG declined to reapply for tender less than three months after the company made its debut on the London Stock Exchange

The Financial Reporting Council (FRC) is consulting on plans to revise the International Standard on Auditing (ISA) (UK) 570 Going Concern, which will mean requirements for UK auditors will be significantly stronger than those required by international standards

In this month’s round-up of audit news, FRC extends probe into Carillion audit, no deal Brexit advice for auditors, Vodafone drops PwC in swap to EY, BDO picks up £200k Halfords audit from KPMG

In an update to its investigation into failed outsourcer Carillion, the Financial Reporting Council (FRC) has revealed it has extended the scope of its probe into the preparation, approval and audit of the company’s financial statements to include certain matters relating to the financial statements for the year ended 31 December 2013

The revised international auditing standard, ISA (UK) 540 (Revised) Auditing Accounting Estimates and Related Disclosures, attempts to improve scalability issues and treatment of accounting estimates as more complex forward analysis becomes available for financial reporters. Michelle Roberts CA, specialist audit writer at Croner-i Tax and Accounting, considers the judgment issues for auditors

The Big Four have been asked to give MPs details of their spending on hospitality and entertainment for FTSE 350 clients, along with details of staff targets and progression, as part of the Department for Business, Energy and Industrial Strategy (BEIS) committee inquiry into audit quality

Telecom giant Vodafone Group is ringing the changes once again in its choice of auditor and has dropped PwC after just four years in favour of EY, following a competitive tender process triggered by concerns over potential conflicts of interest

Deloitte’s firm in Japan is to pay $2m (£1.56m) to settle charges from the Securities and Exchange Commission (SEC) that it issued audit reports for a client at a time when dozens of its employees maintained bank accounts with the client’s subsidiary, in violation of the regulator’s audit independence rules