Latest News - Regulation
Lawsky calls for bank consulting work oversight
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Only 24% of governments globally use accrual accounting, according to a recent survey by PwC.. read more
