The FRC has overseen a major uptick in audit enforcement activity recently, with the regulator issuing fines of £33.3m in 2022, a 77% increase from the previous year. The string of high-profile audit failures in recent years have been … Read More
There has been a 2.1% increase in accountancy members to over 400,000 in the past year, according to the Financial Reporting Council’s (FRC) 21st edition of its Key Facts and Trends (KFAT) report. The increase comes despite the number of … Read More
The proposed new rules come amid frustration in Washington that audit firms are not living up to their duty to protect investors from wrongdoing by their clients. Big Four accounting firms are fighting to block new rules in the US that would … Read More
The FRC has revealed that a record number of cases were resolved in the year 2022/23 that resulted in financial sanctions of £40.5m being imposed, according to the council’s Annual Enforcement Review that was published today (27 July). Quality improvements … Read More
These new requirements will boost the resilience of the UK economy, ensuring it continues to attract talent and investment. The Financial Reporting Council (FRC) has welcomed the Government’s publication of the draft statutory instrument on corporate reporting, which strengthens reporting requirements. The new … Read More
The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations … Read More