As the FRC’s £1.2m fine against EY over Made.com lands alongside a new probe into KPMG’s audits, the watchdog's enforcement strategy is shifting. Mark...
View articleAs the FRC turns its lens on overseas delivery hubs, UK audit partners are being forced to prove they are actively managing risk not just offloading h...
View articleAs the Financial Reporting Council launches an aggressive expansion of its regulatory sandbox programmes, the burden of rigid audit compliance is begi...
View articleThe Financial Reporting Council is pivoting from its post-Carillion "enforcement era" toward a risk-based, proportionate supervisory model. As the reg...
View articleThe Vistry probe signals a shift in regulatory focus from the boardroom to the site office. We break down the £165m forecasting failure and provide a ...
View articleA rare alliance of the Big Four and mid-tier firms is pushing the FRC to abandon its controversial ‘name and shame’ policy. As the regulator weighs it...
View articleThe Association of Chartered Certified Accountants (ACCA), a global professional body with over 257,900 members and 530,100 future members across 180 ...
View articleThe Financial Reporting Council has unveiled a new scalebox initiative to mentor smaller audit firms and improve competition with the Big Four. Read M...
View articleThe Financial Reporting Council (FRC) has launched a formal investigation into Deloitte’s audits of Glencore plc and its UK subsidiary, Glencore Energ...
View articleThe Financial Reporting Council has sharply criticised BDO’s audit quality, calling its work “significantly short of expectations” and placing the fir...
View articleThe FRC has warned that big accountancy firms aren’t tracking how AI tools affect audit quality, raising concerns over oversight amid growing reliance...
View articleThe Financial Reporting Council (FRC) has opened consultation on a proposed UK version of a new global sustainability assurance standard, aiming to gi...
View articleThe Association of Chartered Certified Accountants (ACCA) has called for a more balanced approach to audit regulations for small and medium-sized ente...
View articleThe Financial Reporting Council (FRC) has published its draft three-year strategy for 2025-28, emphasising its commitment to safeguarding public trust...
View articleThe Financial Reporting Council (FRC) has released initial findings from its ongoing examination of the NHS audit market, revealing significant obstac...
View articleAs the October 28 deadline approaches, accounting firms across the UK are being urged to contribute to a critical consultation that could reshape how ...
View articleThe Financial Reporting Council’s Annual Review of Audit Quality for 2024, released on July 30, 2024, paints a picture of an audit landscape in ...
View articleInvestigations revealed that KPMG failed to gather sufficient audit evidence and did not exhibit the necessary professional scepticism required for au...
View articleThe FRC's sanctions against the three audit firms involved in the LCF audits serve as a stark reminder of the vital role that auditors play in maintai...
View articleAuditors asked to explain what measures they are taking to combat rule-breaking Read More...
View articleThe FRC's Enforcement Committee identified significant departures from expected auditing standards, including uncorrected material errors in financial...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
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 articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
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 articleContinuing econonmic uncertainty serves as a reminder to businesses that consistent, high-quality financial reporting is more important than ever, a F...
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