EY slapped with £6.5m fine over Thomas Cook audits April 10, 2025 The watchdog has fined Big Four giant EY £6.5m for its audit of the collapsed airline Thomas Cook.
KPMG: Regulator probes Big Four firm over audit of Ladbrokes-owner Entain January 20, 2025 The accountancy watchdog has kicked off an investigation into Big Four firm KPMG over its audit of gambling giant Entain
Carillion is ancient history. Seven years on, the audit profession has moved on January 15, 2025 Seven years on, the audit industry has moved on from Carillion. It's legislation that needs to catch up, writes ICAEW CEO Alan Vallance.
Audit watchdog swaps Canada for Canary Wharf’s Harbour Exchange December 17, 2024 The Financial Reporting Council (FRC) has revealed it's swapping its City office for Harbour Exchange in Canary Wharf
Ex-BDO senior manager handed 20-year ban for falsifying documents November 14, 2024 The audit watchdog has banned a former senior manager of accountancy giant BDO for 20 years after she was found to have been creating false documents
All hail the regulator going for growth November 12, 2024 At last month’s Investment Summit in the City, Keir Starmer set out an admirably clear view of how he wants this country’s regulatory bodies to work, telling delegates: “we will make sure that every regulator in this country, especially our economic and competition regulators, takes growth as seriously as this room does.” There’s been no [...]
Audit watchdog plans to ditch ‘environment’ focus in growth push November 11, 2024 The audit watchdog is planning to remove references to the “environment” and “society” from a code setting standards for City investors in a bid to simplify reporting processes and get behind the government’s push for growth, Morning Wire can reveal. In a consultation document today, the Financial Reporting Council (FRC) will reveal plans to make a number [...]
How the accounting watchdog is looking to unleash the City November 11, 2024 As Richard Moriarty gripped the sides of a podium and spoke freely from a sheet of bullet points at the London Stock Exchange in September, a warmth was stirring among certain City executives in the room. The tie-less career regulator, boss of the audit watchdog, the Financial Reporting Council, laid out his plans to shake [...]
Smaller firms eye chunk of Big Four’s audit work with uptick in clients September 30, 2024 Non-Big Four firms have experienced an uptick on audit work across FTSE 250 and all main market clients, as competition with the audit giants continues
FRC: Reporting gap between FTSE 350 and AIM widening September 24, 2024 The Financial Reporting Council reported that there is evidence that in corporate reporting, the gap between FTSE 350 and other companies is widening