This article, the nineteenth in our series on the Companies Act 2006, will focus on the auditor’s report, including what information it must include, the rights of the auditor and what is considered an offence

Katherine Bagshaw FCA examines the Financial Reporting Council's (FRC) latest audit quality thematic review of materiality and talks to key stakeholders about their views on judgment issues from adjusted errors to performance materiality and profit adjustments, and the UK regulatory requirement to assess materiality

The Financial Reporting Council (FRC) is continuing to push for an inquiry by the Competition and Markets Authority (CMA) into the Big Four, arguing it consider the case for ‘audit only’ firms in a bid to encourage more competition and reduce conflicts of interest

Fewer charities overall are filing accounts with a modified audit opinion, meaning that their accounts are, or may be, materially misstated, but it is a ‘particular concern’ that 40% of those that do have done so for two consecutive years, the Charity Commission has found

The US Securities and Exchange Commission (SEC) has charged foreign affiliates of KPMG, Deloitte & Touche, and BDO for their involvement in audit work that circumvented the full oversight of the Public Company Accounting Oversight Board (PCAOB), by using unregistered auditors

This article, the eighteenth in our series on the Companies Act 2006, will focus on audited accounts, including exemptions for various companies, and the implications surrounding the appointment of an auditor

The International Forum of Independent Audit Regulators (IFIAR) has challenged the six largest global audit firm networks to do more to improve the quality of their auditing and ensure greater consistency worldwide, after it found progress plan to drive up standards was too patchy

An MP has described KPMG’s last set of accounts for failed outsourcer Carillion as ‘a work of fiction’, while a leading investment group and shareholder in the company has asked audit committees at two other companies audited by KPMG to confirm the quality of the firm’s work

FTSE 100 speciality chemicals group Johnson Matthey has appointed PwC as its external auditor following a competitive tender process, ending a 30-year relationship with KPMG

The UK corporate governance code should have a stronger focus on understanding and applying the principles of good corporate governance, rather than a compliance-led ‘box ticking’ approach, according to ACCA’s feedback to the Financial Reporting Council's (FRC) consultation on proposed changes

Deloitte has agreed to pay the US justice department $149.5m (£109m) to settle claims arising from its audits of failed mortgage lender Taylor, Bean & Whitaker Mortgage (TBW), which collapsed and declared bankruptcy in 2009 and was subsequently found to have been involved in a large scale fraud

US and EU mandates regarding auditor rotation are failing to eliminate the ill effect of long auditor tenures with corporate clients, according to research published by the American Accounting Association