Auditing News

• August 7, 2018 PwC Replaces Deloitte as Auditor of Flybe Independent airline operator Flybe has decided to replace Deloitte with PwC as its new auditor for the fiscal year ending March 31, 2019. This decision by the airline operator will see Deloitte replaced by PwC after ...
• July 30, 2018 Kingfisher Board Approves the Re-appointment of Deloitte as its External Auditor FTSE 100 firm Kingfisher has retained Deloitte as its auditor for the financial period ending January 31, 2019. The decision of appointing Deloitte as auditor has been taken following a formal tender process. The ...
• July 23, 2018 EY Replaces KPMG as Auditor of Beazley FTSE 250 firm Beazley has decided to appoint EY as its auditor replacing KPMG for the financial year ending December 31, 2019. The global insurer firm has taken the decision after conducting a competitive tender ...
• July 17, 2018 IAASB Consults on Proposed Changes to ISA 315 The International Auditing and Assurance Standards Board (IAASB) is consulting on making changes to ISA 315 (Identifying and Assessing the Risks of Material Misstatement). The purpose of the auditing standards is to ...
• July 1, 2018 FRC to Open Investigation against Deloitte over SIG Audit The Financial Reporting Council (FRC) has recently launched an investigation into the external audit of SIG plc performed by Deloitte for the years ended December 31, 2015 and December 31, 2016. SIG plc is a UK based ...
• May 14, 2018 SIG Decides to Drop Deloitte as Group Auditor The FTSE 250 firm SIG decided to drop Deloitte as its auditor after the majority of the group shareholders voted against the reappointment of the Big Four firm at its recently held annual general meeting (AGM). At ...
• May 3, 2018 PwC Replaced as Auditors by the KPMG of a 109-year Old Client PwC Replaced as Auditors by the KPMG of a 109-year Old Client  Carr’s, an agricultural and engineering group, has approved in its board meeting to replace PwC as its auditor by KPMG for the year ending August ...
• April 24, 2018 Big Four firms Face Potential £10m Fines for Shoddy Audit Work Financial Reporting Council (FRC) has decided to implement a number of restrictions and sanctions on the Big Four firms after the body faced immense pressure to take a strong stand against these firms in light of the ...
• March 27, 2018 ACCA Releases New Report Analysing the Impact of Recent Changes Made to Auditor Reporting Standards ACCA (the Association of Chartered Certified Accountants) has recently released a new report named ‘key audit matters: unlocking the secrets of the audit’ as per which the recent changes made to standards pertaining to ...
• February 7, 2018 CIPFA Recognition Revoked as an Audit Qualifying Body The UK based independent regulator Financial Reporting Council (FRC) has revoked the recognition of the Chartered Institute of Public Finance (CIPFA) as an audit qualifying body, effective from December 18, 2017. ...