Auditing

Audit / Deloitte in fashion at SuperGroup

FTSE 250 clothing retailer SuperGroup has announced it plans to replace PwC with Deloitte as its external auditor for the financial year ending 28 April 2018, following a competitive tender process

Audit / Deloitte picks up PZ Cussons audit from PwC

Personal care and homecare supplier PZ Cussons is to drop PwC as its auditor following a competitive tender process, and plans to appoint Deloitte as its external auditor for the financial year commencing 1 June 2017, subject to shareholder approval at its AGM in September

Audit / PCAOB cracks down on ex-PwC Brazil partner over audit failure

A former partner at PwC’s Brazilian firm has been fined $10,000 (£8,021) and given a two-year ban by the Public Company Accounting Oversight Board (PCAOB) for audit failures in relation to the accounts for US consumer goods and bakery supplier Sara Lee

Audit / FRC to investigate own member over Connaught leak

The FRC has launched an internal investigation after a member leaked information about the regulator’s investigation into PwC’s audit of Connaught to the press, reports Calum Fuller

Audit / EY US auditor settles $87k SEC insider trading charges

A former junior auditor with EY’s US firm based in Silicon Valley has paid over $87,000 (£70,000) to the Securities and Exchange Commission (SEC) to settle charges that he traded on inside information about a client on the verge of a merger, and has agreed to a five-year suspension as an accountant

Audit / Companies House launches email alerts service

Individuals can now receive an email alert informing them when a company files with Companies House as part of its new follow service, which shows people what has been filed by a company as soon as it has been approved 

Audit / FRC consults on revisions to ISA (UK) 250

The Financial Reporting Council (FRC) has launched a consultation on proposed revisions to ISA (UK) 250, Section A – Consideration of Laws and Regulations in an Audit of Financial Statements, and conforming amendments to other UK standards, which are intended to bring it into line with agreed international ethics standards

Audit / PwC faces further probe over Connaught audit

The Financial Reporting Council (FRC) is to resume its hearing of a formal complaint against PwC and retired partner Stephen Harrison later this week, concerning their conduct in relation to the audit of the financial statements of Connaught plc and its subsidiaries, for the year ended 31 August 2009

Audit / Radian Capital switches auditor to BDO

Listed Radian Group, a social housing, care and support services provider, has dropped incumbent auditor Deloitte in favour of mid-tier firm BDO LLP with immediate effect

Audit / Woolf: boardroom pay escalates as governance suffers

Excessive director pay is a scourge across big business and it needs to be curbed, says Emile Woolf FCA, former forensic accountant and audit committee chair

Audit / FRC urges firms to improve audit quality controls

The Financial Reporting Council (FRC) says audit firms need to improve their quality control procedures, after a thematic review discovered problems with a third of the audits sampled, suggesting the current approach is not working effectively

Audit / Audit chiefs fight back against cyber attacks

Growing numbers of chief audit executives are introducing security operation centres in the face of the growing risks from cyber incidents and data breaches, according to research conducted by the Institute of Internal Auditors’ (IIA) and Crowe Horwath, which suggests a new focus on taking the offensive against potential attacks

Audit / Audit updates: March 2017

In our monthly roundup of developments in audit and governance, small businesses fail to use audit exemption, Dairy Crest audit goes to Deloitte, FRC set to tighten governance code and sanctions regime

Audit / CPD module - audit exemptions under Companies Act 2016 - NEW

This month's exclusive CCH Daily CPD modules focuses on audit exemptions such as size-based, dormant company and subsidiary, under the Companies Act 2006 as well as practical issues to consider when evaluating whether to opt for audit exemption

Audit / Blockchain carries ‘risk and promise’, says payments regulator

Central banks and financial institutions must carefully consider the potential savings and efficiencies of using Blockchain and other distributed ledger technology along with its risks in payments, clearing and settlement, warns global payments regulator, Bank for International Settlements 
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