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Latest News - Regulation

Lawsky calls for bank consulting work oversight

  • Author: IAB editorial
  • Published: 20 Aug 2013

The New York State first superintendent of financial services Benjamin Lawsky said there is a need to regulate firms offering consulting services.... read more

Five year retendering unnecessary and expensive: PwC

  • Author: IAB editorial
  • Published: 16 Aug 2013

PwC UK said five year mandatory audit retendering for FTSE350 companies would prove to be costly and warned it could devalue the tender process..... read more

Five year retendering could result in a “sham process”: FRC

  • Published: 12 Aug 2013

The UK Financial Reporting Council believes that five year mandatory audit retendering for all FTSE350 suggested by the Competition Commission (CC).... read more

India one step closer to mandatory audit firm rotation

  • Author: Jonathan Minter
  • Published: 8 Aug 2013

A move towards mandatory audit firm rotation has taken a step forward in India, after the country’s upper house, the Rajya Sabha, voted through the.... read more

IIRC framework needs external assurance rules: BDO

  • Author: IAB and TA editorial
  • Published: 29 Jul 2013

In a supportive response to the international integrated reporting framework launched by the International Integrated Reporting Council (IIRC), BDO.... read more

Chinese regulator to handover Langtop audit papers

  • Published: 15 Jul 2013

The US Securities and Exchange Commission (SEC) said that the China Securities Regulatory Commission (CSRC) have indicated that they will handover.... read more

US Congress votes to ban mandatory audit rotation

  • Author: Jonathan Minter
  • Published: 9 Jul 2013

The US House of Congress has voted through H.R. 1564: The Audit Integrity and Job Protection Act, by 321 votes to 62.. read more

IIA release banking internal audit guidance

  • Author: Jonathan Minter
  • Published: 8 Jul 2013

The Chartered Institute of Internal Auditors (IIA) has published a report aimed at strengthening the power of internal audits, after a UK.... read more

US Congress to vote on banning mandatory audit rotation

  • Author: Jonathan Minter
  • Published: 8 Jul 2013

The US House of Representatives is to vote today on the bill H.R.1564: The Audit Integrity and Job Protection Act.. read more

Leaked report heats up Deloitte probe in Spain

  • Author: Carlos Martin Tornero
  • Published: 3 Jul 2013

A leaked report published by Spanish press has revealed details of ongoing disciplinary proceedings initiated by Spain's audit watchdog Instituto.... read more

COFS blocks PCAOB mandatory audit rotation

  • Author: Jonathan Minter
  • Published: 21 Jun 2013

The US Committee of Financial Services (COFS) has unanimously passed H.R. 1564: The Audit Integrity and Job Protection Act which, if enacted, will.... read more

News analysis: G8 agree new tax regime

  • Author: Charles Wheeldon
  • Published: 19 Jun 2013

G8 leaders have agreed on further transparency on sharing tax information. They will establish automatic exchange of information between tax.... read more

End in sight for new Accounting Directive

  • Author: Charles Wheeldon
  • Published: 13 Jun 2013

The European Parliament yesterday voted through comprehensive changes to the EU’s accounting framework, abolishing quarterly reporting, introducing.... read more

BDO partner launches shadow charity SORP committee

  • Author: Charles Wheeldon
  • Published: 11 Jun 2013

Don Bawtree, head of charities at BDO UK, has launched an independent ‘shadow’ committee to contribute to discussions on the forthcoming Statement.... read more

Deloitte China requests to halt handing over Longtop audit documents

  • Published: 30 May 2013

Deloitte China has requested a US federal court dismiss a case filed by the Securities and Exchange Commission (SEC) to obtain its Longtop.... read more

PCAOB and Chinese regulator sign MoU

  • Author: IAB editorial
  • Published: 24 May 2013

The US Public Company Accounting Oversight Board (PCAOB) has signed a Memorandum of Understanding (MoU) with its Chinese counterpart and the.... read more

E&Y US failed to address PCAOB concerns

  • Author: IAB editorial
  • Published: 24 May 2013

The US Public Company Accounting Oversight Board (PCAOB) said Ernst & Young US (E&Y) did not address some of its quality control concerns issued in.... read more

Spanish accounting body demands external audits of local governments

  • Author: Carlos Martin Tornero
  • Published: 22 May 2013

The Instituto de Censores Jurados de Cuentas de Espana (ICJCE) has tabled an amendment to the transparency draft bill, currently under discussion.... read more

PwC UK appoints utility strategy and regulation head

  • Published: 15 May 2013

Stuart Cook has been appointed as head of utility strategy and regulation at PwC UK. Cook's responsibilities include advising clients on strategic.... read more

More than 75% of governments still use cash accounting: PwC

  • Published: 14 May 2013

Only 24% of governments globally use accrual accounting, according to a recent survey by PwC.. read more


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