“The Big Four’s domination of the large firm audit market in the UK is almost complete: in 2010 they audited 99 of the FTSE 100 largest listed firms, which change auditors every 48 years on average. It is clearly an …
Read MoreThe British, or should that be the English, and in particular those living South of the M25, have developed a bit of a reputation in recent years. Well probably many reputations. What we’re thinking of is their inclination to be …
Read MoreThe $185 million in civil and criminal payments agreed in a U.S. courtroom last week by the German car maker Daimler have been widely reported. What has been less well covered is the role of the internal audit team that …
Read MoreThe UK’s Financial Reporting Council (FRC) has warned against companies signing up for “bundled audits” pending completion of a review into the ethical questions surrounding their use.
As we reported in August, the downturn has encouraged the development of a …
Read MoreThe FRC has published its Fourth Progress Report on the implementation of the MPG recommendations on promoting choice in the UK audit market. In October 2007, the MPG published 15 recommendations intended to allow the audit market to work
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The Auditing Practice Board has published 137 responses to its consultation on audit firms providing non-audit services to listed companies that they audit. A consistent theme in may of the responses is a call for further transparency in disclosures in …
Read MoreAn independent report commissioned by the European Commission has concluded that the differences between US and international audit standards are “negligible”. The study, prepared by the Maastricht Accounting, Auditing and Information Management Research Center (MARC), evaluated the differences between International …
Read MoreThe current economic downturn is encouraging issuers to review their audit arrangements with more pressure to delivery low cost audits says Ernst & Young’s audit chief, John Flaherty.
According to reports in Accountancy Age tendering activity is at its highest …
Read MoreThe Accountancy and Actuarial Discipline Board (AADB) has announced that it will investigating PricewaterhouseCoopers LLP and its staff in relation to its role as auditor to struggling sub-prime lender Cattles Plc.
As previously reported on Manifest-I, Cattles has sacked six …
Read MoreSir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of banks and other big financial institutions (BOFIs). The aim of the report was to …
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