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Accounting news in the UK | Page 2
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No news found.
PwC stung with fine for 'serious lack of competence'
In a startlingly blunt assessment of PwC’s accounting work for Redcentric, the UK’s auditing watchdog has said the firm exhibited a “lack of competence”, before slapping a fine of more than £4 millio
20 June 2019
Charity sector sees audit bill spiral by £10 million
Charities across the UK have been left wondering if their auditors are delivering them value for money, with the reporting that the UK’s largest third sector entities have seen an additional £10 mill
19 June 2019
KPMG to restructure its UK audit business
With the Big Four routinely coming in for criticism from the UK’s auditing watchdog, KPMG has taken action to offset further calls for the break-up of its accounting and consulting wings.
04 June 2019
BDO or Mazars to oust Big Four as Goldman Sachs UK auditor
The cloud of controversy hanging over the world’s four largest professional services firms seems to have cost the companies dearly, as Goldman Sachs has announced it will look beyond them when appoin
16 May 2019
Deloitte wins CRH role from Big Four rival
Big Four professional services firm Deloitte has secured a new contract as the external auditor of constructions industry manufacturer CRH. The firm will replace rival EY in the role as of 2020.
14 March 2019
Accounting error adds £40 million to Kier Group debts
Global construction company Kier Group has announced it has an additional £40 million of debt, following an accounting error.
14 March 2019
Auditing own-goal sees Goals Soccer Centres issue profit warning
Scottish five-a-side football firm Goals Soccer Centres has seen its share price slump, following its issue of a second profit warning in the wake of uncovered accounting errors.
12 March 2019
PwC criticised for alleged conflicts of interest auditing Staffline
PwC has been accused of ignoring conflicts of interest at a listed audit client, at which two senior members of staff were former members of the Big Four firm.
06 March 2019
Grant Thornton comes under scrutiny for Sports Direct role
Global auditing and advisory firm Grant Thornton has been attacked by critics for its accounting role for Sports Direct.
19 February 2019
FRC consults on third country auditors to prepare for Brexit
With Brexit preparations in disarray, the Financial Reporting Council has opened a consultation with auditors in anticipation of a No Deal scenario.
21 January 2019
Union calls for Carillion criminal investigation one year on
Following a succession of additional scandals worsening the blow of the Carillion scandal, one of the UK’s leading workers’ rights organisation has called on the Government to take more stringent act
17 January 2019
Kingman Review says FRC should be replaced 'as soon as possible'
The UK’s accounting watchdog has come under fire from an independent review, which has called for its urgent replacement.
16 January 2019
RSM replaces Grant Thornton as Patisserie Valerie auditor
Months after a £20 million accounting black hole was found in the books of Patisserie Valerie, the British café chain has changed its auditing provider.
15 January 2019
PwC uses drone to assist audit in global first
Big Four firm PwC has piloted the use of a drone for an audit of a client in the energy sector, in a global first for the firm.
07 January 2019
CMA calls for audit market cap but stops short of Big Four break-up
The Big Four audit and advisory firms face an unprecedented limit to their market share, following the conclusions of a probe by the UK’s competition ombudsman.
17 December 2018
Outsourcer Interserve's rescue plan sparks share slide
Embattled government contractor Interserve has announced that a plan to reduce its debt by issuing new shares.
13 December 2018
Big Four rivals outline recommendations for changing UK audit market
Some of the UK’s largest auditing and advisory firms have called for changes to the UK accounting scene, ahead of the Competition & Markets Authority’s industry probe.
22 November 2018
BDO appoints Jill Halford as Partner for audits in charity wing
As professional services firm BDO looks to build on its strong position in the UK as an alternative to the Big Four, Jill Halford has been appointed as an Audit Partner in the mid-tier firm’s chariti
15 November 2018
BDO grows junior market auditing lead over Big Four
The UK’s sixth-largest audit firm has reportedly extended its lead as the UK’s top auditor of mid-size, Alternative Investment Market firms.
12 November 2018
KPMG imposes self-enforced ban on non-audit work for FTSE 350
Reports circulated by the UK media have stated that KPMG is to stop undertaking non-audit work for FTSE-350 companies whose accounts it supervises.
09 November 2018
Scisys trades one Big Four auditor for another
AIM-listed software company Scisys has appointed EY as its auditor after the resignation of KPMG from the role.
01 November 2018
Big Four accounting firms brace for competition probe from CMA
As pressure continues to mount on the top figures of the auditing and advisory industry, the dominance of the Big Four in the accounting arena will now be the subject of a landmark competition probe.
15 October 2018
Patisserie Valerie finds ‘potentially fraudulent’ accounting anomalies
One of the UK’s largest café chains faces a potential auditing crisis, as it struggles with a £20 million black hole in its accounts.
11 October 2018
Big Four firms wary of Sports Direct's hunt for new auditor
As competition rules have led to Grant Thornton having to stand aside as the auditor of Sports Direct, the retail group has been left struggling to replace the firm.
19 September 2018
Grant Thornton calls for independent public body to appoint auditors
Britain’s fifth largest auditing and advisory firm has recommended a radical shake-up to the audit tendering process for large listed companies.
17 September 2018
British furniture company appoints KPMG administrators
A UK furniture producer has appointed administrators from Big Four firm KPMG, following a rocky start to 2018 for retailers and their suppliers.
07 August 2018
PwC steps back from Wasps role over 'falsified' information
Big Four firm PwC has resigned as auditor for Wasps Holdings, a group best known for its ownership of Wasps Rugby.
09 July 2018
PwC fined and Partner banned from accounting over BHS audit
Following an investigation into the collapse of British retailer British Home Stores, PwC and a former Partner of the firm have been fined on the grounds of ‘misconduct’.
29 June 2018
'Unacceptable deterioration' in auditing sees KPMG censured by FRC
The Financial Reporting Council has taken unprecedented steps to monitor the auditing work of KPMG.
28 June 2018
Scottish accounting firm AAB launches consulting division
Aberdeen headquartered accountancy Anderson Anderson & Brown (AAB) has launched a dedicated consulting firm as it bids to boost revenue growth.
08 June 2018
Big Four maintains dominance of FTSE 100 and 250 audits
Despite building pressure on watchdogs and UK lawmakers to break up the Big Four, the top accounting and advisory providers remain dominant in the UK auditing market after the first quarter of 2018.
04 June 2018
FRC takes Deloitte to tribunal for $5 billion Autonomy scandal
Big Four firm Deloitte has become the latest professional services giant to face a probe from the Financial Reporting Council.
01 June 2018
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