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News

News

11 May 2017
On 30 March 2017 the Financial Reporting Council (FRC) announced an independent review of the sanctions imposed under its enforcement procedures
News - Discipline
11 May 2017
PwC and Stephen Harrison, a retired PwC audit partner, have been severely reprimanded and fined £5m and £150,000 respectively for Misconduct in relation to the 2009 audit of Connaught plc, a FTSE 250 company which went into administration in 2010
News - Auditing - Discipline
8 May 2017
Small entities are within the scope of FRS 102[1] for accounting periods beginning on or after 1 January 2016. Therefore, other than early adopters, the first small entities applying FRS 102 are those with accounting periods ending 31 December 2016. Small entities have nine m...
News - Accounting
4 May 2017
The Financial Reporting Council (FRC) has commenced an investigation under the Audit Enforcement Procedure into the conduct of KPMG Audit Plc, in relation to the audit of the financial statements of Rolls-Royce Group plc for the year ended 31 December 2010 and of Rolls-Royce H...
News - Auditing - Discipline
2 May 2017
The Financial Reporting Lab (the Lab) has today published a report which sets out a framework for future digital reporting. This is the first in a series of reports on the Lab’s Digital Future project
News - Financial Reporting
27 April 2017
The FRC has issued a discussion paper which considers the role of auditors and preliminary announcements of annual results, with a particular focus on the LSE main market.
News - Auditing
26 April 2017
The FRC has issued a paper inviting stakeholder comments on proposals to update guidance on obtaining bank reports for audit purposes.
News - Auditing
26 April 2017
The International Auditing and Assurance Standards Board (IAASB) is consulting on a proposal to revise its standard for the audit of accounting estimates and related disclosures (ED-540).
News - Auditing
24 April 2017
Grant Thornton UK LLP (“GT”) and Robert Napper (a retired GT Partner) (together, the “Respondents”), have admitted Misconduct and agreed to fines and other sanctions.
News - Discipline
13 April 2017
The FRC has today launched a consultation on proposed revisions to Practice Note 15. The consultation runs until 30 June 2017.
News - Auditing
       
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