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Latest News - Regulation

CC finds reputation creates barriers to entry

  • Author: Peter Johnstone
  • Published: 11 Oct 2012

The Competition Commission (CC) has said that it considers issues of reputation and experience hinder “the expansion of the larger mid-tier firms.... read more

Econ suggests seven year retendering

  • Author: Ana Gyorkos
  • Published: 28 Sep 2012

Mandatory rotation and the pure audit firm concept have been scrapped from the draft legislation report released by the EU parliament Economic and.... read more

EU committee gives recommendations to Juri

  • Author: Ana Gyorkos
  • Published: 27 Sep 2012

The EU Parliament committee on Industry, Research and Energy (Itre) rapporteur Jurgen Creutzmann has suggested enforcing a time limit on audit.... read more

Competition Commission findings suggest no collusion among Big Four

  • Author: Peter Johnstone
  • Published: 25 Sep 2012

The Competition Commission (CC) has suggested there is no evidence of tacit cooperation among the Big Four in the initial conclusions of its audit.... read more

Hong Kong's regulator takes legal action against E&Y

  • Author: Carlos Martin Tornero
  • Published: 28 Aug 2012

The Securities and Futures Commission (SFC) has brought Ernst & Young Hong Kong (E&Y) to court, after the firm failed to hand over audit documents.... read more

PCAOB finds deficiencies on brokerage audits

  • Author: IAB editorial
  • Published: 21 Aug 2012

In the first review of broker audits the US Public Company Accounting Oversight Board (PCAOB) found most statements lacked proper review before.... read more

PKF UK discusses barriers to entry: Competition Commission

  • Author: Ana Gyorkos
  • Published: 20 Aug 2012

The most common barriers to entry for the mid-tier into the FTSE350 market are the Big Four alumni and heavy price discounting, PKF UK told the UK.... read more

Mid-tier hit back at PwC in competition probe

  • Author: Ana Gyorkos
  • Published: 15 Aug 2012

Grant Thornton and BDO UK have hit back at PwC UKs criticism of some of the views expressed by the mid-tier to the UK Competition Commission (CC),.... read more

AADB to investigate PwC over RSM Tenon audit

  • Author: IAB editorial
  • Published: 13 Aug 2012

The UK Accountancy and Actuarial Discipline Board (AADB) is to launch an investigation into the conduct of some PwC UK employees and the firm in.... read more

KPMG China converts to special group partnership

  • Author: IAB editorial
  • Published: 6 Aug 2012

KPMG China has officially converted its China operations from a joint venture to a special group partnership with limited liability, which places.... read more

Competition Commission survey highlights concentration

  • Author: Ana Gyorkos
  • Published: 26 Jul 2012

A UK Competition Commission (CC) statutory audit survey found 83% of FTSE 350 companies that recently switched auditors opted to choose another Big.... read more

PwC criticises stakeholder and mid-tier CC comments

  • Author: IAB editorial
  • Published: 20 Jul 2012

PwC UK has issued a response to the Competition Commission (CC) criticising comments made to it by certain stakeholders and mid-tier audit firms on.... read more

SEC halts court action against Deloitte China

  • Author: IAB editorial
  • Published: 19 Jul 2012

The US Securities and Exchange Commission (SEC) has asked a federal judge to temporarily halt proceedings to obtain Deloitte Chinas audit documents.. read more

Chinese MoF approves KPMG restructuring plans

  • Author: IAB editorial
  • Published: 16 Jul 2012

The Chinese Ministry of Finance (MoF) has approved KPMG Chinas plans to restructure from a joint venture to special general partnership in line.... read more

Baker Tilly leader calls for SOX modernisation

  • Author: Ana Gyorkos
  • Published: 12 Jul 2012

As the ten year anniversary of the SarbanesOxley Act (SOX) being signed into US federal law approaches, Baker Tilly International chairman Jim.... read more

EU committee discusses watering down audit reforms

  • Author: Ana Gyorkos
  • Published: 10 Jul 2012

British MEP Sajjad Karim warned the EU Parliaments Committee on Legal Affairs (JURI) that pure audit firms proposal goes too far.. read more

EU report calls for more analysis on audit reforms

  • Author: IAB editorial
  • Published: 9 Jul 2012

The European Parliament Impact Assessment Unit (IA) has said the European Commissions (EC) audit reform proposals lack sufficient drivers and.... read more

Softening of EC's audit reform expected in EU Parliament

  • Author: Jeremy Woolfe
  • Published: 2 Jul 2012

BRUSSELS: Indications of a possible softening of the tough rules proposed by the European Commission for the auditing sector are coming from.... read more

PCAOB HEARING: More arguments against firm rotation

  • Author: Ana Gyorkos
  • Published: 29 Jun 2012

US stakeholders have said mandatory audit firm rotation is not the best solution to improve independence and scepticism.. read more

E&Y UK cleared over Lehman audits

  • Author: IAB editorial
  • Published: 25 Jun 2012

The Accountancy and Actuarial Discipline Board (AADB) has cleared Ernst & Young UK (E&Y) of any wrong doing in the relation to its audit of.... read more

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