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Latest News - Regulation

News brief: PwC UK fined £5m for misconduct

  • Author: Rahman Aziz
  • Published: 11 May 2017

The UK Financial Reporting Council (FRC) has fined PwC UK and its former audit partner Stephen Harrisson, £ 5m and £150,000 respectively for.... read more

Audit committees can contribute further to audit quality, IFIAR

  • Author: Sarajuddin Isar
  • Published: 4 May 2017

Audit committees around the globe should focus on more and better communication as well as defining better criteria that determine their.... read more

FRC publishes framework to improve quality for future digital reporting

  • Author: Rahman Aziz
  • Published: 3 May 2017

The Financial Reporting Council (FRC) Lab has published a framework for future digital reporting, to improve quality and for views to be shared by.... read more

Canada Securities Administrators launch consultation on oversight requirements for foreign audit firms

  • Author: Stephanie Wix
  • Published: 3 May 2017

The Canadian Securities Administrators (CSA) has launched a consultation paper entitled Auditor Oversight Issues in Foreign Jurisdictions on 25.... read more

Securities Commission Malaysia releases new code on corporate governance

  • Author: Rahman Aziz
  • Published: 27 Apr 2017

The Malaysian Securities Commission has released the new Malaysian Code on Corporate Governance (MCCG) to strengthen corporate culture by placing.... read more

KPMG removes 6 personnel including their head of audit over unethical behaviour

  • Author: Stephanie Wix
  • Published: 13 Apr 2017

Big Four firm KPMG has fired six audit personnel including four partners, one employee and the head of the audit practice in the USA, for violating.... read more

Gender pay gap reporting requirements puts equality in the spotlight

  • Author: Stephanie Wix
  • Published: 12 Apr 2017

A transparency initiative on the gender pay gap has led to reporting requirements being put into force from 5 April 2017. Private and voluntary.... read more

Patchy implementations of EU audit reform

  • Author: Stephanie Wix
  • Published: 11 Apr 2017

An overview of the implementation of the European Union audit reform, which came into force last June, shows consistency among member states in.... read more

News brief: IFIAR opens headquarters in Tokyo

  • Author: Stephanie Wix
  • Published: 10 Apr 2017

The International Forum of Independent Audit Regulators (IFIAR) has opened its headquarters in Tokyo, Japan and has held its first board meeting.. read more

Singaporean regulators and institutes release retail investors’ guide to enhanced auditor’s report

  • Author: IAB and TA editorial
  • Published: 7 Apr 2017

To help investors understand the enhanced auditor report (EAR) which is implemented as of this year, The Singaporean regulators, the Accounting.... read more

Former Deloitte Brazil chairman and CEO sanctioned by PCAOB

  • Author: Rahman Aziz
  • Published: 4 Apr 2017

Former Deloitte Brazil chairman Michael John Morrell, and former CEO and managing partner Juarez Lopes de Araujo, have been sanctioned for.... read more

CIPFA to launch Brexit advisory commission

  • Author: IAB and TA editorial
  • Published: 31 Mar 2017

The Chartered Institute of Public Finance and Accountancy (CIPFA) has announced the launch of an independent advisory commission to look at the.... read more

Update on OECD Anti-Bribery Convention adoption in Argentina, Finland, UK and Italy

  • Author: Stephanie Wix
  • Published: 29 Mar 2017

Progresses on anti-bribery laws are being made albeit slowly, according to recent publication by the Organisation for Economic Co-operation and.... read more

Former partner of PwC Brazil sanctioned by PCAOB

  • Author: Rahman Aziz
  • Published: 23 Mar 2017

A former partner of PwC Brazil has been fined $10,000 and barred for two years from associating with a registered public accounting firm.. read more

USA business leaders predict corporate tax reform unlikely before 2018

  • Author: Vincent Huck
  • Published: 23 Mar 2017

While the Trump administration said it would deliver its corporate tax reform, the most significant tax reform in the USA since 1986, by the summer.... read more

Stakeholders internal audit expectations are at their lowest in 5 years

  • Author: Stephanie Wix
  • Published: 22 Mar 2017

Internal audit functions are failing to keep up with stakeholder expectations of internal audit value, according to PwC USA’s 13th annual State of.... read more

EU new cyber security regulation challenges SMEs

  • Author: Sarajuddin Isar
  • Published: 22 Mar 2017

EU Regulation on cyber security, the general data protection regulation (GDPR), will come into force in May 2018, and will require businesses.... read more

Delay Making Tax Digital for business, says House of Lords on Finance Bill draft

  • Author: Stephanie Wix
  • Published: 17 Mar 2017

The House of Lords Economic Affairs Committee has released a report on the draft Finance Bill 2017 which covers the much anticipated subject,.... read more

ETAF calls for an EU Code of Conduct for tax intermediaries

  • Author: Rahman Aziz
  • Published: 13 Mar 2017

Answering and EU Commission’s consultation on tax planning, the European Tax Advisor Federation (ETAF) has called for an EU Code of Conduct for tax.... read more

MEPs seek to amend the AML Directive and allow citizens to access data of companies’ beneficial ownership

  • Author: Sarajuddin Isar
  • Published: 10 Mar 2017

The European Parliament’s Economic & Monetary Affairs (ECON) and Civil Liberties Justice & Home Affairs (LIBE) committees have voted on the.... read more

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