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Latest News - Assurance and Accounting

CIIA publishes updated guidance on risk management in UK financial services

  • Author: Stephanie Wix
  • Published: 5 Sep 2017

The UK Chartered Institute of Internal Auditors (CIIA UK) has released guidance on how financial institutions in the UK should manage risks in an.... read more

EU companies late on implementing biggest shake up of data protection laws

  • Author: Stephanie Wix
  • Published: 4 Sep 2017

General Data Protection Regulation (GDPR) will come into force in the European Union (EU) member states on 25 May 2018, affecting the way in which.... read more

The UK becomes the 20th country to exchange tax reports with the USA

  • Author: Stephanie Wix
  • Published: 1 Sep 2017

The UK and USA governments have agreed to exchange tax information from multinational enterprises in country by country reports (CBCR).. read more

East African Wild Life Society looking for external auditor

  • Author: Sarajuddin Isar
  • Published: 30 Aug 2017

The East African Wild Life Society (EAWLS) has called for submission of profiles and proposals for provision of external audit services for a three.... read more

Malaysia introduces audit exemptions

  • Author: Stephanie Wix
  • Published: 29 Aug 2017

The Companies Commission of Malaysia (CCM) has released a directive setting out the category and criteria for audit exemption. The practice.... read more

PwC pulls out of African Cup of Nations engagement

  • Author: Vincent Huck
  • Published: 25 Aug 2017

An inspection to the 2019 Africa Cup of Nations hosts Cameroon has been postponed by the Confederation of African Football after PwC withdrew from.... read more

French institute of directors’ publication supports integrated reporting but calls for improvement

  • Author: Stephanie Wix
  • Published: 18 Aug 2017

Integrated reporting is gradually gaining a foothold in France, however, content of the reports produced is far from perfect particularly from the.... read more

Regulatory sanctions round-up: KPMG USA and PwC fined $6.2m and £5.1 by the SEC and the FRC respectively

  • Author: Stephanie Wix
  • Published: 16 Aug 2017

KPMG USA has been fined by the USA SEC $6.2m over audit failures of an oil and gas company whilst PwC has paid a £5.1m (USD $6.5m) fine to the UK.... read more

The UK government made the right decision in delaying Making Tax Digital, finds survey

  • Author: Stephanie Wix
  • Published: 15 Aug 2017

Findings from a survey on Making Tax Digital (MTD) have revealed that 86% of respondents think that the UK government has made the right decision.... read more

Mid-tier firms top ranking of auditors by fees for UK charities

  • Author: Vincent Huck
  • Published: 14 Aug 2017

Crowe Clark Whitehill has topped the latest Charity Financials Audit League Table which ranks UK audit firms by fees received from clients in the.... read more

Most of the information used by investors doesn’t come from the audited financial statement, Canadian audit regulator finds

  • Author: Vincent Huck
  • Published: 11 Aug 2017

The Canadian Public Accountability Board (CPAB) has releases a summary of the key messages that came out of its audit quality symposium revealing.... read more

Johannesburg listed company Sygnia drops KPMG over state capture allegations

  • Author: Vincent Huck
  • Published: 2 Aug 2017

Sygnia, an investment management company listed on the Johannesburg Stock Exchange with a market value of R 1.4bn (US$ 105.4m) has dropped KPMG as.... read more

USA SEC opens consultation on PCAOB’s changes to the auditor’s report

  • Author: Vincent Huck
  • Published: 31 Jul 2017

THE USA SEC has published the PCAOB’s proposed rules on the auditor’s report in the Federal Register for comments by 18 August 2017.. read more

IBRACON regional president and Baker Tilly Brazil partner participates in the launch of Rio de Janeiro’s social observatory

  • Author: Vincent Huck
  • Published: 31 Jul 2017

The Brazilian institute of auditor (IBRACON) regional president for Rio de Janeiro and Baker Tilly Brazil partner Paulo Buzzi Filho attended the.... read more

Users of financial reports believe alternative performance measures are useful to assess company’s performance as a supplement to GAAP measures in New Zealand, XRB survey suggests

  • Author: Sarajuddin Isar
  • Published: 19 Jul 2017

Eighty eight percent of users of financial information in New Zealand believe that alternative performance measures (APMs) are useful or sometimes.... read more

Professionals welcome UK government’s delay of Making Tax Digital but concerns remain

  • Author: Stephanie Wix
  • Published: 18 Jul 2017

The UK Government has delayed its plans for the digital transformation of the tax system (MTD) after professional bodies, businesses and MPs raised.... read more

UK FRC issues revision to auditing standard

  • Author: Vincent Huck
  • Published: 17 Jul 2017

The UK Financial Reporting Council (FRC) has issued revision to ISA (UK) 250 – consideration of laws and regulations in an audit of financial.... read more

BT abandons PwC after fraud humiliation to appoint KPMG as auditor

  • Author: Stephanie Wix
  • Published: 8 Jun 2017

BT has replaced PwC with KPMG as its auditor following a fraud scandal at BT Italy in January which wiped £8bn off the company’s market value.. read more

PCAOB censures BDO Hungary and a Deloitte Mexico senior manager

  • Author: Rahman Aziz
  • Published: 7 Jun 2017

The Public Company Accounting Oversight Board (PCAOB) has issued two disciplinary orders censuring BDO Hungary and a senior manager from Deloitte.... read more

PCAOB adopts new auditing standards and releases proposal on auditing accounting estimates

  • Author: Sarajuddin Isar
  • Published: 7 Jun 2017

The Public Company Accounting Oversight Board (PCAOB) has adopted new auditing standards and has released a proposal for consultation on auditing.... read more

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