A new ‘coexistence’ of financial audit and ESG advisory teams could emerge due to the nature of sustainability assurance services PwC has predicted that ESG assets will account for more than 50% of mutual fund assets by 2025 – representing compound annual … Read More
The Kingman Review in 2018 found that the FRC had insufficient powers to address systemic issues at the firms, relying on the registration powers of the Recognised Supervisory Bodies. The creation of the PIE Auditor Register was also a key … Read More
The paper follows the Government Response to the consultation on strengthening the UK’s Corporate Governance, Corporate Reporting and Audit systems The Financial Reporting Council (FRC) has published a Position Paper which sets out the next steps to reform the UK’s … Read More
Proposed AQIs would provide comparable indicators on perceived culture within an audit firm, audit quality inspection results, staff workloads, and the level of partners’ involvement in individual audits The Financial Reporting Council (FRC) has issued a consultation on publishing audit quality indicators … Read More
The UK unemployment rate is close to a 50-year low point, having dropped by 0.2% to 3.8% for February to April 2022, and those unemployed for up to six months increased over this three-month period, marking the largest increase since … Read More
Most employers have recognised a skills shortage in their workforce, or expect to have shortages in the next five years, according to new research from PwC. The firm found that concerns around skills shortages were “profound”, with 33% experiencing a … Read More
The UK government is plotting a series of initiatives to enable the domestic endorsement and adoption of new international sustainability standards, according to Debbie Crawshawe, accounting expert at the Department for Business, Energy and Industrial Strategy (BEIS). Speaking during a … Read More
This marks the largest monthly figures on record for the sector, as it was 13% higher than the previous record turnover that was reported in January 2022 The UK accounting industry saw its turnover rise to £4.13bn in March, marking … Read More
Some four in five (79%) of accounting firms are seeing an increase in flexible working as a result of Covid-19 – with a third (33%) of accountants already working a four day week, according to new research from FreeAgent. The report, which surveyed … Read More
Audit committee chairs are “particularly alert” to quality during the auditor tendering process, with mandatory tendering being seen as an opportunity to encourage innovation by prospective auditors, according to independent research commissioned by the Financial Reporting Council. The research, conducted by … Read More