All auditing articles
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NewsGrant Thornton fined for below par audit of UK local authority pension fund
Failures included obtaining insufficient evidence that the value of investments was materially accurate
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NewsSwedish roundup: AP7 tender; Folksam, KPA, Skandia and Länsförsäkringar returns
Premium pension default provider seeks internal audit services
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NewsSwiss regulator to introduce revised audit standards
New requirements apply to auditors of pension funds and of institutions providing occupational pensions
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NewsFRC issues roadmap for reboot of UK corporate governance oversight
A consultation on the changes is scheduled to take place from the first quarter of next year
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NewsTrustee association shows concern about time and resources spent
Requwsts for information are often excessive and seem to disregard the regulatory framework within which pension schemes operate
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NewsCorporate governance advisor PIRC pushes for shareholder hard line on audit
PIRC is recommending that shareholders oppose the appointment of EY, PWC, KPMG and Grant Thornton during this year’s round of shareholder meetings
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NewsPIRC tackles IAASB over audit expectation gap
‘Auditors have substantial obligations in relation to detecting fraud in an audit, regardless of the expectation gap’
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Features
Accounting Matters: Auditing the auditors
There is widespread consensus that the audit sector is not fulfilling its potential, and that previous attempts at reform have been ineffective. As the impact of high quality audit goes far beyond the boardroom, when pension funds rely on audited financial statements for their capital allocation decisions, it is ultimately their individual members’ capital that is at risk.
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NewsFRC updates UK Parliament on progress on governance, audit reforms
Inquiries into the future of audit come after a tough time for the audit and accounting profession, following a number of high-profile corporate failures in the UK
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NewsFRC makes ‘bold’ suggestions for future of corporate reporting
Proposals include moving to ‘network of interconnected reports’
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NewsAccounting roundup: IASB clears COVID-19 lease amendment
Plus: – ESMA cautions over COVID-19 P&L presentation – IIRC launches consultation
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NewsAP Pension gets 35 raps as FSA finds management lacking
Danish pension fund says it has already solved half the issues flagged up
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NewsFTSE 100 firms urged to check group, parent assets balance
Corporate governance specialist says companies should prominently display a parent company balance sheet
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NewsAccounting roundup: FRC raises going concern sign-off standards
Watchdog says auditors face ‘significantly stronger requirements’
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NewsLocal authority pension funds back UK audit market reform proposals
But long-standing critics rue missed opportunities
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NewsUK companies to keep EU accounting standards post-Brexit
Government proposes powers to adopt EU-led standards beyond the UK’s exit from the bloc
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NewsUK to replace audit regulator after damning review
Investors voice support as Kingman review to be enacted by government
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NewsUK audit inquiry reignites ‘illegal dividends’ dispute
UK and international rules on distributable reserves have ‘inconsistencies’, accountancy body admits, reigniting long-running debate
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NewsKingman review proposes replacing FRC with new, stronger regulator
Recommendation echoes demands of stakeholders to disband audit watchdog
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NewsDutch watchdog offers assistance in implementing IORP II rules
Schemes could find it difficult to comply with conditions for audit, actuarial matters and risk management, says DNB
