Two auditors have been reported to their professional body in the wake of the Charity Commission’s follow-up report on auditors’ compliance with the requirements for reporting matters of material significance, with the regulator warning it may take similar action without prior warning in future

David Grunberg, founding partner of Grunberg & Co, mulls over the Competition and Markets Authority’s (CMA) review of the audit market and suggests that a change of heart over consultancy might be needed from the Big Four

Donald Brydon, outgoing chair of the London Stock Exchange Group and chair of Sage Group has been appointed to lead a new independent review of the quality and effectiveness of the UK audit market, in the wake of the Kingman review and the Competition and Markets Authority’s (CMA’s) interim findings, following a nine-month search for an independent chair

In a scathing review of the Financial Reporting Council (FRC), Sir John Kingman has called for the standard setter and audit regulator to be closed in its present form with immediate replacement by a new oversight authority with regulatory powers set in statute

A five-week consultation has been launched on the Competition and Markets Authority’s (CMA) proposals to address the lack of competition in the audit market with reforms including the introduction of joint audits for listed companies, with at least one firm being non-Big Four, and closer scrutiny of auditor appointments, reports Amy Austin

Eddie Stobart, one of the UK’s leading supply chain, transport and logistics companies, has announced it has appointed PwC as its new auditor, replacing KPMG

The Financial Reporting Council (FRC) has announced the withdrawal of two practice notes, one relating to attendance at stocktaking and the other to the audit of credit unions in the UK

The Financial Reporting Council (FRC) has launched a consultation to assess the effectiveness of the client asset audit (CASS) standard, which was introduced in 2015 to provide a principles-based framework to strengthen audit quality in response to some high profile failures

Despite increased scrutiny, there is still an inextricable link between the boards of the FTSE 100 and the UK’s Big Four audit firms with almost two thirds of FTSE 100 CFOs and audit committee chairs being former partners or staff, according to Accountancy’s annual FTSE 100 and Big Four alumni survey

The Financial Reporting Council (FRC) has published the final version of a new code for the corporate governance of large private companies, called the Wates principles, which can be used on an ‘apply or explain’ basis to meet new legal requirements and is intended to encourage greater transparency

The Financial Reporting Council (FRC) has flagged up concerns about auditors’ work on the information in the front end of company reports, which it says does not meet the requirements of auditing standards consistently and should be given greater focus

Crowe continues to dominate the audit market in the charity sector, according to a report which shows that over a quarter of charities have used the same auditor for more than ten years and only half of charities have an audit tendering process