Success of FRS 102 needs to be replicated on going concern
Regulatory Bodies

Success of FRS 102 needs to be replicated on going concern

13y Richard Crump , Writer

Success of FRS 102 needs to be replicated on going...

The consultation process for FRS 102 was arguably the most wide-ranging the FRC has ever conducted. It should apply the same rigour to going concern R...

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IASB and FASB propose dual approach to lease accounting
Accounting Standards

IASB and FASB propose dual approach to lease accounting

13y Richard Crump , Writer

IASB and FASB propose dual approach to lease accou...

IASB and FASB put forward a dual approach to accounting for leases on company balance sheets Read More...

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Material uncertainties over FRC going concern guidance
Business Regulation

Material uncertainties over FRC going concern guidance

13y Richard Crump , Writer

Material uncertainties over FRC going concern guid...

No-one disputes Lord Sharman’s recommendations on going concern, but the FRC’s interpretation has been met with alarm Read More...

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FRC launches KPMG audit probes
Accounting Firms

FRC launches KPMG audit probes

13y Richard Crump , Writer

FRC launches KPMG audit probes

FRC launches investigation into KPMG over independence Pendragon audit as well as investigating a partner's shareholding in a client company Read More...

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Baroness Hogg steps down as FRC chairman
People In Practice

Baroness Hogg steps down as FRC chairman

13y Richard Crump , Writer

Baroness Hogg steps down as FRC chairman

FRC announces departure of chairman Baroness Hogg, who is staying on while government finds a successor Read More...

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Pensions regulator to slam Silentnight following pre-pack
Business Recovery

Pensions regulator to slam Silentnight following pre-pack

13y Accountancy Age

Pensions regulator to slam Silentnight following p...

Silentnight owner could be forced to pay £30m into pension fund by regulator Read More...

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FRC confirms budget increase and hike in levy rates
Regulatory Bodies

FRC confirms budget increase and hike in levy rates

13y Richard Crump , Writer

FRC confirms budget increase and hike in levy rate...

Reporting watchdog increases overall budget for 2013/14 to £24.5m and raises annual levies by 8.5% Read More...

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Government to introduce new sanctions on IPs this summer
Business Recovery

Government to introduce new sanctions on IPs this summer

13y Rachael Singh

Government to introduce new sanctions on IPs this ...

This summer will see the introduction of a single gateway for complaints and common sanctions for insolvency practitioners rolled out across the regul...

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IPA announces FRP partner is new president
Business Recovery

IPA announces FRP partner is new president

13y Rachael Singh

IPA announces FRP partner is new president

FRP Advisory partner Charles Turner takes presidency and chairman role at Insolvency Practitioners Association Read More...

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Audit market “flirting with stagnation”, says PCAOB chair
Audit

Audit market “flirting with stagnation”, says PCAOB chair

13y Richard Crump , Writer

Audit market “flirting with stagnation”, says PCAO...

Lack of information and difficulty in discerning the difference between audits risks market stagnation, warns James Doty Read More...

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ASAF discusses conceptual framework at inaugural meeting
Accounting Standards

ASAF discusses conceptual framework at inaugural meeting

13y Richard Crump , Writer

ASAF discusses conceptual framework at inaugural m...

IASB and members of the ASAF discuss conceptual framework and impairment projects at inaugural meeting Read More...

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Colin: The auditor's reading list
Audit

Colin: The auditor's reading list

13y Taking Stock

Colin: The auditor's reading list

Following the FRC's concerns over Grant Thornton and BDO's audit work, Colin recommends a some light reading Read More...

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IFRS Foundation expands Middle Eastern influence
People In Practice

IFRS Foundation expands Middle Eastern influence

13y Richard Crump , Writer

IFRS Foundation expands Middle Eastern influence

IFRS Foundation appoints Abdulrahman Al-Humaid as a trustee with immediate effect Read More...

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GT and BDO told to buck up professional scepticism
Accounting Firms

GT and BDO told to buck up professional scepticism

13y Richard Crump , Writer

GT and BDO told to buck up professional scepticism

FRC review team raises concerns about some of Grant Thornton and BDO's listed company audit work Read More...

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FRC disagrees with Competition Commission rotation plans
Accounting Firms

FRC disagrees with Competition Commission rotation plans

13y Rachael Singh

FRC disagrees with Competition Commission rotation...

FRC claims mandatory auditor rotation would undermine audit committees' authority Read More...

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FRC and FASB among 12 members of IASB advisory forum
Accounting Standards

FRC and FASB among 12 members of IASB advisory forum

13y Richard Crump , Writer

FRC and FASB among 12 members of IASB advisory for...

US and UK national standard setters among inaugural members of IASB's Accounting Standards Advisory Forum Read More...

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SEC grilled over its Deloitte China legal case
Accounting Firms

SEC grilled over its Deloitte China legal case

13y Rachael Singh

SEC grilled over its Deloitte China legal case

Magistrate grills SEC attorney over rules it used to subpoena Deloitte China attorney Read More...

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Deloitte and FRC fire opening salvoes in MG Rover tribunal
Accounting Firms

Deloitte and FRC fire opening salvoes in MG Rover tribunal

13y Rachael Singh

Deloitte and FRC fire opening salvoes in MG Rover ...

Deloitte launches defense of its role in two transactions it advised the 'Phoenix Four' on when they owned MG Rover in 2000, as FRC tribunal gets unde...

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GCCAAO and ICAEW sign audit quality agreement
Accounting Standards

GCCAAO and ICAEW sign audit quality agreement

13y Rachael Singh

GCCAAO and ICAEW sign audit quality agreement

ICAEW signs agreement with Gulf states to develop an audit monitoring programme Read More...

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Deloitte/MG Rover tribunal begins
Regulatory Bodies

Deloitte/MG Rover tribunal begins

13y Rachael Singh

Deloitte/MG Rover tribunal begins

FRC tribunal to determine if Deloitte had a conflict of interest in advising the Phoenix Four which bought MG Rover begins today Read More...

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FRC boss defends 'comply or explain' audit tendering
Audit

FRC boss defends 'comply or explain' audit tendering

13y Richard Crump , Writer

FRC boss defends 'comply or explain' audit tenderi...

UK competition and reporting watchdogs at loggerheads over comply or explain provision for mandatory audit tendering Read More...

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Xerox chief accountant appointed to the IASB
People Business

Xerox chief accountant appointed to the IASB

13y Richard Crump , Writer

Xerox chief accountant appointed to the IASB

Xerox chief accounting officer Gary Kabureck joins IASB for an initial term ending 30 June 2017 Read More...

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Big Four audit dominance has "adverse" effect, CC to find
Audit

Big Four audit dominance has "adverse" effect, CC to find

13y Richard Crump , Writer

Big Four audit dominance has "adverse" effect, CC ...

The Big Four dominance of the listed audit market has an "adverse" effect on competition, an investigation into the firms' concentration of the market...

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Internal auditors banned from engagement teams
Audit

Internal auditors banned from engagement teams

13y Richard Crump , Writer

Internal auditors banned from engagement teams

FRC bans auditors from using internal audit staff on engagement teams; IIA recommends scope of internal audit should be unlimited Read More...

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EU standard setters wade into IFRS debate
Accounting Standards

EU standard setters wade into IFRS debate

13y Richard Crump , Writer

EU standard setters wade into IFRS debate

The FRC joins with fellow European national standard setters to influence IASB's work on conceptual framework that underpins IFRS Read More...

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Auditors' going concern judgment to extend beyond 12 months
Audit

Auditors' going concern judgment to extend beyond 12 months

13y Richard Crump , Writer

Auditors' going concern judgment to extend beyond ...

Companies' ongoing financial health must be judged over a longer period of time, according to draft proposals put forward by the FRC Read More...

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Audit reform aboard the slow train of Europe
Audit

Audit reform aboard the slow train of Europe

13y Richard Crump , Writer

Audit reform aboard the slow train of Europe

An initial vote on controversial reforms of the audit market are due in March, but don't be surprised by more delays Read More...

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