The storied history of the ICAEW

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Few institutions wield as much influence and prestige in the history of accountancy as the Institute for Chartered Accountants in England and Wales (ICAEW). Established as a pioneering force in the realm of accountancy, the ICAEW has played an instrumental … Read More

Introducing ARGA: the proposed new audit regulator

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The FRC is set to transition to the new Audit, Reporting and Governance Authority (ARGA) from April 2024 The UK government has long proposed reforms to the audit and corporate governance framework.  Back in September 2020, Sir Tony Redmond’s Independent review into the oversight … Read More

Big Four US Firms admit to audit regulation breaches

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The Public Company Accounting Oversight Board urged companies and investors to pay greater attention to the findings of its annual inspections of audit firms The Big Four accounting firms have admitted hundreds of violations of regulations in the US that are designed to … Read More

AI is an emerging risk for auditors, new research shows

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Artificial intelligence has been identified as an emerging risk, with gaps in organisational preparedness and audit proficiency, according to new research from Protiviti. In partnership with The Institute of Internal Auditors (The IIA), Protiviti conducted its 11th Annual Global Technology … Read More

FRC chief rejects criticism of tough audit investigations

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Richard Moriarty, CEO of the Financial Reporting Council (FRC) has defended the regulator’s investigations into audit firm misconduct saying ‘fear of enforcement sanctions’ will not make the regulator ‘disinterested’ In a robust defence of the FRC’s disciplinary actions, Moriarty refuted … Read More

Grant Thornton relegated from top tier of audit supervision

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Grant Thornton has reportedly been demoted from top tier of audit supervision after the accountancy firm cut its number of high profile clients, the Financial Times has reported. According to regulatory filings, the Financial Reporting Council industry watchdog moved the firm from “tier one” to … Read More

Big Four continue to dominate audit market, FRC finds

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The report highlights the FRC’s intention to conduct market studies that can generate proposals to improve the way the market functions with particular regard to better choice and resilience The Financial Reporting Council (FRC) has today (14 December) published an updated overview … Read More

IAASB introduces new auditing standard for SMEs

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The International Auditing and Assurance Standards Board (IAASB) has released a new global auditing standard, ISA for LCE, specifically designed for smaller and less complex businesses. The new standard, ISA for LCE, is a first of its kind, marking a significant … Read More

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