Audit watchdog launches ‘bold new programme’ to support growth at smaller firms September 12, 2025 The audit regulator has unveiled a new initiative aimed at enhancing the presence of the UK’s small audit firms in the Public Interest Entity market. The Financial Reporting Council (FRC) has initiated a new and more proportionate supervisory approach, designed to enhance audit quality and reflect the unique needs of smaller firms. The body will [...]
Audit costs for English councils soar as bankruptcies mount August 19, 2025 Audit costs for English councils have more than tripled, during a time many councils have fallen into bankruptcy or taken on greater debt.
British body tames AI audit frontier with world’s first global standard July 21, 2025 BSI has published the world’s first international standard to help ensure the quality of audits and protect against a ‘wild west’ of unchecked AI providers
Relief for startups as government U-turns on onerous Companies House rules July 3, 2025 Small businesses are breathing a sigh of relief after it emerged the government is set to U-turn on the introduction of new onerous Companies House rules. The new rules, which were due to come into effect in April 2027, would have required small and micro companies to disclose their profit and loss statements for the [...]
Deloitte names new UK financial services lead March 11, 2025 Deloitte has appointed consulting veteran Suresh Kanwar to head up its financial services division in the UK and join its executive committee. Kanwar previously led the audit and consultancy behemoth’s banking and capital markets team, and his new new role makes him one of the 13 most senior figures in Deloitte’s 27,000-strong army of UK [...]
KPMG to merge dozens of markets in major overhaul March 10, 2025 Big Four audit giant KPMG will merge dozens of its national partnerships in an attempt to accelerate growth and minimise audit scandals. The move to integrate its panoply of businesses, each of which is owned by the respective partners in each jurisdiction, represents one of the most significant shake-ups at a major professional services network [...]
UK’s audit chief ‘open to learning’ from Elon Musk’s DOGE in US February 5, 2025 The head of the government’s spending watchdog has said he is open to learning from Elon Musk’s US “department of government efficiency”, or DOGE. Gareth Davies, the UK’s chief auditor, gave his annual speech to Parliament on Tuesday, warning that money was being “wasted” and public services “compromised” as he stressed that there was a [...]
BDO becomes £1bn giant as partner profit recovers November 25, 2024 Revenue at BDO, the accountancy and business advisory giant, has surpassed £1bn for the first time in its 100-year history, it has been confirmed. The London-headquartered firm, which has offices across the country, said its “continuedprogramme of investment” helped revenue rise by 8.6 per cent to £1.02bn in the year to 5 July, 2024. The [...]
Hays: Recruitment giant’s shareholders stage major revolt against PwC November 20, 2024 Shareholders in recruitment giant Hays have staged a major protest over the reappointment of PwC as its auditor. Just over 20 per cent voted against the reappointment of the accountancy giant to the role it has served since 2016 at Hays’ annual general meeting. At the same meeting, 19.8 per cent of shareholders voted against [...]
Audit watchdog plans to ditch ‘environment’ focus in growth push November 11, 2024 The audit watchdog is planning to remove references to the “environment” and “society” from a code setting standards for City investors in a bid to simplify reporting processes and get behind the government’s push for growth, City AM can reveal. In a consultation document today, the Financial Reporting Council (FRC) will reveal plans to make a number [...]