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Latest News - Regulation

SEC judge issues services ban on the Big Four China firms

  • Author: Vincent Huck
  • Published: 23 Jan 2014

A US Securities and Exchange Commission (SEC) judge has ruled that all of the Big Four Chinese joint ventures had violated the Sarbanes-Oxley Act,.... read more

Juri passes trialogue agreement on EU audit reform

  • Author: Ana Gyorkos
  • Published: 21 Jan 2014

Following the agreement between the European Parliament, the Council of the European Union (EU) and the European Commission on the EU audit reform.... read more

KPMG UK Co-op Bank audits under FRC investigation

  • Author: Carlos Martin Tornero
  • Published: 20 Jan 2014

The UK Financial Reporting Council (FRC) is to pursue an investigation of KPMG UK’s audit work on the Co-operative (Co-op) Bank, which will focus.... read more

CC delays remedies implementation due to EU audit reform

  • Author: Ana Gyorkos
  • Published: 17 Jan 2014

The UK Competition Commission (CC) is to delay the implementation of the remedies for the UK audit market, which include 10 year mandatory.... read more

Profession braces for EU audit reform with mixed expectations

  • Author: Carlos Martin Tornero
  • Published: 19 Dec 2013

The favourable vote from a qualified majority of members of the Committee of Permanent Representatives (COREPER) has cleared one the final hurdles.... read more

EU gives green light to 10 years audit rotation

  • Author: Carlos Martin Tornero
  • Published: 18 Dec 2013

The Committee of Permanent Representatives (COREPER) has approved the agreement reached yesterday between the Lithuanian presidency of the Council.... read more

EU settles on 10 years mandatory audit rotation

  • Author: Vincent Huck
  • Published: 17 Dec 2013

A period of 10 years mandatory rotation is among the key elements of the agreement reached earlier today between the Lithuanian presidency of the.... read more

Profession remains cautious on EU preliminary agreement of audit reform

  • Author: Vincent Huck
  • Published: 17 Dec 2013

The accounting profession has welcomed the preliminary agreement between the Lithuanian presidency of the Council of the European Union (EU) and.... read more

Agreement reached on the EU audit reform

  • Author: Vincent Huck
  • Published: 17 Dec 2013

The Lithuanian presidency of the Council of the European Union (EU) and the European Parliament have agreed on the framework of the EU audit reform.... read more

World Bank calls for LLP status in South Africa

  • Author: Jonathan Minter
  • Published: 6 Dec 2013

The World Bank has called on South Africa to allow firms to organise as limited liability partnerships (LLP) in order to make the auditing.... read more

Fears of a rushed agreement emerge as EU audit reform nears end

  • Author: Vincent Huck
  • Published: 4 Dec 2013

The trialogue on the EU audit reform could result in a rushed agreement as early as tomorrow, which could potentially be “detrimental to the.... read more

FRC making inquiries at Co-op bank

  • Author: Jonathan Minter
  • Published: 25 Nov 2013

The UK Financial Regulatory Council (FRC) has confirmed it is making enquiries about the Co-Operative Bank’s (Co-op) 2012 accounts, though it is.... read more

The clock is ticking for EU audit reform

  • Author: Vincent Huck
  • Published: 25 Nov 2013

A report by the pan-European media network EuroActiv last week suggested the trilogue negotiations on the EU audit reform including.... read more

Brazilian competition authorities approve KPMG acquisition of BDO firms

  • Author: IAB editorial
  • Published: 25 Nov 2013

The Brazilian Competition Authority (CADE) has approved KPMG’s acquisition of BDO Auditores Independentes and BDO Consultores in Brazil, two years.... read more

French football strike looms

  • Author: Vincent Huck
  • Published: 31 Oct 2013

The French president Holland is currently in discussions with a delegation of football clubs owners to discuss a new tax, which is likely to hit.... read more

Profession rides out the storm after Lehman Brothers

  • Author: IAB and TA editorial
  • Published: 19 Sep 2013

Five years on from that fateful 15 September 2008, Lehman Brothers’ collapse is seen as the ignition spark that unleashed the on-going effects of.... read more

UK FRC to investigate PwC's audit of Berkeley Group

  • Author: Vincent Huck
  • Published: 16 Sep 2013

The UK Financial Reporting Council (FRC) opened an investigation into whether PwC UK was acting independently when it audited UK house builder.... read more

PCAOB critical of KPMG and PwC audits

  • Author: Jonathan Minter
  • Published: 30 Aug 2013

The US Public Company Accounting Oversight Board (PCAOB) has found a number of flaws in audits conducted by PwC US and KPMG US between 2011 and.... read more

UK mid-tier firm opinions split on the benefits of five year retendering

  • Author: IAB editorial
  • Published: 28 Aug 2013

Responding to the UK Competition Commission’s (CC) provisional decision on remedies most UK mid-tier firms have welcomed the proposed five year.... read more

US audit fees shrinking

  • Author: Vincent Huck
  • Published: 21 Aug 2013

In the past decade the ratio of audit fees over revenue of US public companies shrank, according to the latest audit fee report by US research.... read more


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