Finance | Audit threshold for Scottish charities raised to £1m

Scottish charities are set to benefit from changes to legislation which will raise the audit income threshold from £500,000 to £1m almost immediately

12 Nov 2025

Finance

Financial Reporting

Auditing

Charities

Finance | Oxford Instruments reverts to Big Four for £1.2m audit

FTSE 250 listed Oxford Instruments has hired Deloitte as statutory auditor after five years with mid-tier firm

11 Nov 2025

Finance

Auditing

Corporate Governance

Finance | BDO fined £5.8m for misconduct and ‘serious failings’

The UK’s fifth largest audit firm, BDO, hit with multi-million pound fine after admission of misconduct by two former audit engagement partners over lack of supervision of auditor linked to FRC misconduct decision last year

6 Nov 2025

Finance

Auditing

Corporate Governance

Finance | WH Smith delays results after £30m accounting error

Following £30m overstatement of revenue recognition figure spotted in August, WH Smith needs more time for PwC to complete audit work, delaying release of preliminary results 

29 Oct 2025

Finance

Financial Reporting

Auditing

Corporate Governance

Finance | Two sets of books in £2bn NMC audit negligence claim

EY vehemently rejects claims the audit firm should take financial responsibility for ‘collusive and sophisticated fraud’ carried out by former client, collapsed hospital group NMC Health 

15 Oct 2025

Finance

Auditing

Corporate Governance

Finance | NMC failed to provide journals for EY auditors in £2bn audit negligence trial

EY is delivering closing arguments in the High Court where it faces a £2bn negligence claim related to its audit work for collapsed NMC Health hospital group, with expert witness stating journal testing was ‘shocking and unacceptable audit practice’ 

14 Oct 2025

Finance

Auditing

Corporate Governance

Finance | Audit regulator to become Corporate Reporting Authority

The government plans to go ahead with overhaul of Financial Reporting Council, giving it more powers and holding directors to account with new civil sanctions, and dropping ARGA name

14 Oct 2025

Finance

Auditing

Audit Consultations

Corporate Governance

Finance | Audit rules on going concern and fraud to be revised

The Financial Reporting Council (FRC) plans to update key auditing standards, ISA 240 and ISA 570, to improve transparency on fraud risks and going concern, the first changes for four years

8 Oct 2025

Finance

Financial Reporting

Auditing

Audit Consultations

Finance | KPMG fined £750k for ‘numerous failings’ on N Brown audit

Big Four firm KPMG and retired partner ‘expressed contrition’ after given six-figure financial penalty for numerous serious breaches of audit standards for listed online fashion retailer in 2022

7 Oct 2025

Finance

Auditing

Corporate Governance

Finance | Cooper Parry wins £388k Flowtech audit

AIM listed Flowtech Fluidpower has ended audit contract with mid-tier firm in shift to private equity backed Cooper Parry after decade long relationship

6 Oct 2025

Finance

Auditing

Corporate Governance

Finance | FRC plans major shake-up of audit enforcement

The audit regulator plans to overhaul the Audit Enforcement Procedure with a new accelerated procedure to make investigations faster

2 Oct 2025

Finance

Auditing

Audit Consultations

Finance | MoneySuperMarket hires PwC for £700k audit

FTSE 250 Mony Group, owners of MoneySuperMarket.com, has swapped Big Four auditors, hiring PwC for after 21 years with KPMG

29 Sep 2025

Finance

Auditing

Corporate Governance

Finance | FRC publishes latest amendments to ISA UK auditing standards

The Financial Reporting Council (FRC) has updated the suite of ISAs (UK) to reflect recent amendments to four auditing standards

25 Sep 2025

Finance

Financial Reporting

Auditing

Audit Regulations

Corporate Governance

Finance | Carclo hires HaysMac for £866k audit

Listed Carclo appoints HaysMac as auditor following a competitive tender after incumbent firm resigned ‘for commercial reasons’

22 Sep 2025

Finance

Auditing

Corporate Governance

Finance | Court clarifies liquidators’ rights to audit files

Helen Rainford, solicitor at Debenhams Ottaway, examines the implications of a High Court ruling requiring disclosure of BDO audit files related to former client NMCN

18 Sep 2025

Finance

Auditing

Corporate Governance