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Audit governance code under watchdog review

The Audit Firm Governance Code is to come under review after the Financial Reporting Council decided to reassess how the code is (more…)

Tesco finds new auditor in Deloitte

Tesco has parted ways with PricewaterhouseCoopers, replacing the auditors with Deloitte and bringing a relationship of 32 years to an end.

The appointment of Deloitte came (more…)

Barclays loses to Grant Thornton in the High Court

Grant Thornton (GT) was victorious in its legal dispute with Barclays bank concerning Von Essen Hotel (VEH) Group’s non-statutory audits.

The issue started when the accounting (more…)

Deloitte’s investigation finds previous Tesco reporting issues

Corporate finance giant Deloitte has finished reviewing Tesco’s exaggerated six-month results, revealing that the damage is in fact larger than the original declaration of £250 million and (more…)

Tesco situation being watched closely

Britain’s accounting and audit watchdog has said that it is keeping an eye on events after the incident that saw Tesco overstate its profits by (more…)

Increased worries over NHS trust finances

Concerns are rising over NHS trusts’ financial stability, with over one third of reports emphasising cost-effectiveness issues for 2013-2014.

The Audit Commission reviewed (more…)

FTSE 100 tax dispute provisions up to £2.39bn

Some of the largest firms in the UK have made increased provisions to handle worldwide litigation and (more…)

FTSE 100 lobby chair says integrated reporting unclear

Robin Freestone, who chairs the FTSE 100 FDs lobby group, spoke at the Financial Director Conference and said that annual reports feature much of the (more…)

Baker Tilly investigated for Tanfield Group audit

The Financial Reporting Council (FRC) is formally investigating an audit by Baker Tilly of electrical specialist vehicle firm Tanfield Group.

Baker Tilly, along with (more…)

Ernst and Young forced to provide accounts

Ernst and Young has been ordered by the Hong Kong Securities and Futures Commission (SFC) to provide accounts from when it operated as Standard Water Limited’s auditor and accountant.

The SFC ordered the accounts after (more…)

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