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Latest News - Assurance and Accounting

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

CAQ highlights CPAs role in addressing cybersecurity risks

  • Author: Rahman Aziz
  • Published: 1 Jun 2017

The centre for audit quality (CAQ) has released a new white paper highlighting the role of the audit profession in tackling cybersecurity risks.. read more

Brexit uncertainty leads to hiring contractors rather than permanent staff

  • Author: Stephanie Wix
  • Published: 22 May 2017

Businesses are pushed by their uncertainty over Brexit to use contractors instead of hiring permanent staff, leading to non-EU accountants being.... read more

FTSE 100 fail to provide ethical information to shareholders, according to CIIA

  • Author: IAB and TA editorial
  • Published: 19 May 2017

The FTSE 100 is failing to provide shareholders with appropriate information on ethics, according to a research by the Chartered Institute of.... read more

Making Tax Digital tops the Accountex agenda

  • Author: Stephanie Wix
  • Published: 19 May 2017

Legislation for Making Tax Digital (MTD) was removed last month from the Finance Bill 2017, yet it has topped the agenda of the sixth edition of.... read more

Global AI adoption can help accountants beyond compliance, PwC report finds

  • Author: Stephanie Wix
  • Published: 17 May 2017

Artificial Intelligence (AI) could help accountants beyond the basic compliance work by fostering high quality advisory services, according to a.... read more

Ransomware taking data hostage has given professionals the opportunity to prove their worth as ‘trusted advisors’

  • Author: Stephanie Wix
  • Published: 17 May 2017

The recent WannaCry Ransomware cyber-attack has plagued companies in 150 countries holding data for ransom and the accountancy profession was quick.... read more

McLaren breaks up with KPMG to start Deloitte romance

  • Author: Rahman Aziz
  • Published: 16 May 2017

McLaren Applied Technologies has announced a new partnership with Deloitte, putting an end to its work with KPMG, seven years before the due date.. read more

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

FinTech’s fast-growing influence on Financial Services raises concerns

  • Author: Stephanie Wix
  • Published: 9 May 2017

Eighty percent of financial executives believe that business is at risk with 88% being increasingly concerned that they are losing revenue to.... read more

News brief: FRC launches investigation into KPMG’s audit for Rolls Royce

  • Author: Stephanie Wix
  • Published: 5 May 2017

The Financial Reporting Council (FRC) has begun an investigation into the conduct of KPMG regarding the audit of Rolls Royce’s financial statements.. 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

Data analytics in internal audit report helps auditors assess benefits

  • Author: Stephanie Wix
  • Published: 24 Apr 2017

The Chartered Institute of Internal Auditors (CIIA) has published a report on the use of data analytics in internal audit, aiming to help.... 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

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


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