Audit

Chartered IIA welcomes draft audit reform commitment in Queen’s Speech

The Chartered IIA has “welcomed the commitment” to draft audit reform bill in Queen’s Speech but calls on Government to…

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FRC fines Deloitte £2m over Mitie Group audit breach

The Financial Reporting Council (FRC) has issued a financial sanction of £2m against Deloitte LLP and its audit engagement partner,…

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FRC unveils new audit firm governance code

The Financial Reporting Council (FRC) has published a new audit firm governance code for the big four audit firms and…

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FRC publishes three-year plan towards ARGA

The Financial Reporting Council (FRC) has published its three-year plan which sets out the FRC’s progress towards establishing the new…

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CIIA pens letter to PM urging audit reform

The Chartered Institute of Internal Auditors (CIIA) has penned a letter to the prime minister to highlight the concerns regarding…

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FRC fines KPMG £1.25m over Revolution Bars audit

The executive counsel of the Financial Reporting Council (FRC) has fined KPMG LLP £1.25m and imposed further sanctions against it…

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ACCs ‘particularly alert’ to auditor tendering process, FRC finds

Audit committee chairs (ACCs) are “particularly alert” to quality during the auditor tendering process, with mandatory tendering being seen as…

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FRC to investigate PwC’s Babcock audits

The Financial Reporting Council (FRC) has commenced an investigation into the statutory audits by PricewaterhouseCoopers LLP (PwC) of Babcock International…

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Fintel appoints EY as new auditor

Financial services company Fintel has announced the appointment of EY as its new independent auditor with immediate effect. The board…

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FRC to investigate MacIntyre Hudson audits of MRG Finance

The Financial Reporting Council has commenced an investigation into MacIntyre Hudson’s audits of MRG Finance UK. The audits in question were…

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