This follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articlePwC's decision to delay promotions in its graduate scheme, affecting around 100 graduates, is a response to reduced client demand and the aftermath of...
View articleTraditionally, audit schedules have been prepared manually, consuming significant time and resources. However, with the advancements in Artificial Int...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleOn January 27, it was reported EY had quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief ...
View articleDespite the increased interest in AI and ML, only 12% of respondents indicate their organisations have adopted AI and ML within their audit functions....
View articleAs the government's independent investigation progresses, it is hoped that a clearer picture will emerge, leading to meaningful reforms within the aud...
View articleThe proposed enhancements, including the focus on material misstatements arising from non-compliance, the introduction of a risk assessment process, a...
View articleThe Financial Reporting Council's record fines imposed on audit firms in 2023 demonstrate its unwavering commitment to enhancing audit quality. Read M...
View articleThe Big Four audit firms earned 98% of FTSE 350 audit fees in 2022, despite efforts to increase competition within the market Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View articleThis arrangement allows auditors who are professionally qualified and registered as statutory auditors in either the UK or Switzerland to apply for re...
View articleTraditionally, smaller businesses have had to navigate auditing standards designed for larger, more complex entities. This new standard offers a more ...
View articleEffective corporate reporting on sustainability will prevent greenwashing issues and deliver more data for better implementation of climate policies R...
View articleThe involvement of EY and PwC in this case raises questions about their responsibility and oversight Read More...
View articleEY has implemented artificial intelligence (AI) in its audit processes, leading to the detection of fraudulent activities. Out of the first 10 compani...
View articleFintech giant considers dropping BDO following audit report in order to obtain clean bill of health from PRA Read More...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleKPMG was initially fined £30 million, but the penalty was subsequently decreased by 30% due to its cooperation throughout the five-year investigation ...
View articleFines, regulatory oversight and greater investigations are sparking worries that sector control by giants will continue Read More...
View articleSuperdry’s failure to publish its accounts in a timely fashion is the latest in a string of errors Read More...
View articleMinisters had committed to overhauling the audit and corporate governance systems in response to scandals at companies like retailer BHS in 2016 and P...
View articleImprovements in the corporate governance code and a new regulator could provide the impetus for auditors to take a bigger role in fraud detection, tho...
View articleThe FRC has overseen a major uptick in audit enforcement activity recently, with the regulator issuing fines of £33.3m in 2022, a 77% increase from th...
View articleThe standards will become effective for periods commencing on or after 1 January 2024 Read More...
View article33% of organisations have incorporated auditing measures to enhance resiliency against macroeconomic uncertainty into their regular audit practices Re...
View articleAfter cooperating with the inquiry, the firms and partners received a reduction in fines Read More...
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