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Latest News - Regulation

IASB and FASB fail to converge on lease accounting

  • Author: Isabella Grotto
  • Published: 12 Dec 2014

Despite years of attempts, complete convergence on lease accounting has ultimately failed to materialise, as the International Accounting Standards.... read more

As PwC grilled over Lux Leaks by UK gov't fresh cases emerge

  • Author: Isabella Grotto
  • Published: 11 Dec 2014

PwC has come under fire from MPs at a public accounts committee (PAC) meeting in the House of Commons this week over its role in allegedly "selling.... read more

Leaked documents show aggressive tax planning practices in Luxembourg

  • Author: Isabella Grotto
  • Published: 6 Nov 2014

An investigation into tax planning in Luxembourg by a group of European journalists, published today by UK newspaper the Guardian, has uncovered.... read more

Profession concerned over “too rosy” EU banks stress tests results

  • Author: Vincent Huck
  • Published: 31 Oct 2014

The European Central Bank’s (ECB) comprehensive assessment into the Eurozone’s biggest banks brought assurance to investors but leaves the.... read more

Accounting firms in political crossfire in Russia

  • Author: Isabella Grotto
  • Published: 30 Oct 2014

The US and EU-imposed sanctions on Russia are having a dramatic effect on the country's professional services industry, according to the.... read more

SFO launches investigation into accounting practices at Tesco

  • Author: Isabella Grotto
  • Published: 29 Oct 2014

The Serious Fraud Office (SFO) has launched a criminal investigation into accounting practices at Tesco, in the latest blow to the British grocer.... read more

PCAOB inspection critical of KPMG US audits

  • Author: Isabella Grotto
  • Published: 28 Oct 2014

The US's Public Company Accounting Oversight Board (PCAOB) has condemned the quality of audits carried out by KPMG US in an inspection report.... read more

Spain opts for non-renewable 9 year rotation, rushing EU audit reform ahead of election

  • Author: Carlos Martin Tornero
  • Published: 23 Oct 2014

Spain's economy ministry is to propose a mandatory audit rotation period of nine years, scraping the option provided to member states by the EU law.... read more

Tesco chairman resigns as Deloitte investigation finds accounting blunder larger than anticipated

  • Author: Isabella Grotto
  • Published: 23 Oct 2014

Tesco chairman Richard Broadbent announced his resignation, as Deloitte's investigation concluded the British grocery giant's profit overstatement.... read more

ICAEW wields newly conferred regulatory powers for probate licensing

  • Author: Isabella Grotto
  • Published: 22 Oct 2014

The Institute of Chartered Accountants of England and Wales (ICAEW) has become the first non-legal regulatory body to authorise a sole practitioner.... read more

AICPA defies federal crackdown on partnership retirement policies

  • Author: Carlos Martin Tornero
  • Published: 22 Oct 2014

The American Institute of Certified Public Accountants (AICPA) has called on the Equal Employment Opportunity Commission (EEOC) to stop what it.... read more

KPMG secures legal licence

  • Author: Isabella Grotto & Vincent Huck
  • Published: 2 Oct 2014

KPMG UK has secured an alternative business structure (ABS) licence in a bid to diversify its legal service offering to clients.. read more

US Treasury tackles tax inversion

  • Author: Isabella Grotto
  • Published: 1 Oct 2014

The US Department of the Treasury (Treasury Department) and the US Internal Revenue Service (IRS) have announced a series of new rules to prevent.... read more

OECD tax avoidance recommendations: talking the big talk or game changer?

  • Author: Vincent Huck
  • Published: 18 Sep 2014

Accounting firms and professional bodies have reacted cautiously to the Organisation for Economic Co-operation and Development (OECD) release of.... read more

UK CMA and European Commission take hard stand on new rotation rules

  • Author: Vincent Huck
  • Published: 16 Sep 2014

UK FTSE 350 companies which have recently retendered or changed their auditor in the UK are most likely going to have to do so again as early as.... read more

FTSE 100 companies react to remuneration disclosure regulation

  • Author: Steffen Muller
  • Published: 4 Sep 2014

More than three quarters of FTSE 100 companies have made changes to their remuneration arrangements in the past 12 months to address the UK.... read more

Mazars UK and partner admit to "significant" conduct shortcomings in disciplinary case

  • Author: Isabella Grotto
  • Published: 2 Sep 2014

A disciplinary case against Mazars UK (Mazars) and Richard Karmel, a partner of the firm, has resulted in both defendants admitting their conduct.... read more

Chinese Big Four firms granted more time to find settlement in SEC ban

  • Author: Steffen Muller
  • Published: 19 Aug 2014

The US Security and Exchange Commission (SEC) has again granted an extension to the court hearings on the six months ban prohibiting Big Four.... read more

FTSE 350 audit tenders set to double in 2014: PwC UK

  • Author: Ana Gyorkos
  • Published: 18 Aug 2014

Among the UK FTSE 350 there could be as many as 56 audit tenders in 2014, compared to 30 tenders in 2013 and 18 in 2012, according to PwC UK.... read more

FRC to investigate Grant Thornton UK

  • Author: IAB
  • Published: 12 Aug 2014

The UK Financial Reporting Council (FRC) is to pursue an investigation of Grant Thornton UK's preparation, approval and audit of the financial.... read more

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