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FRC announces major overhaul of UK Corporate Governance Code

The Financial Reporting Council has unveiled plans to revise its Corporate Governance Code for the first time in five years

United kingdomHemione hudsonAnn kiemJon thompsonInstitute for internal auditorsFinancial reporting councilCorporate governance codePatisserie valerieCorporate governanceSir jon thompsonPwc united kingdomChartered instituteInternal auditorsDavid styles

Carillion scandal highlights lack of real competitors in UK audit

The growing lack of competitiveness in UK audit market has been a key driver in the recent spate of scandals, including Carillion

United kingdomAnoop rehalJon holtHaines watt rehalHaines wattsGavin hayesBig fourInstitute for internal auditorsChartered instituteInternal auditorsKingman review

Just 12% of local authority audits completed on time, data suggests

The rate of UK local authority audits being completed on time has seen a dramatic downturn during the past two years according to the NAO

United kingdomGareth daviesGavin hayesFinancial reporting councilNational audit officeHouse of commons public accounts committeeInstitute for internal auditorsDepartment forMeg hillierCommons public accounts committeeChartered instituteInternal auditors

Blunted audit reforms risk pick n mix approach to reporting

The UK government has been criticised for watering down proposals to reform audit and coroporate governance

United kingdomMike suffieldJohn woodJohn kingmanGavin hayesDonald brydonJon holtJon thompsonBig fourFinancial reporting councilAssociation for chartered certified accountantsInstitute for internal auditorsGovernance authorityOxley actUnited kingdom corporate governance codeUnited kingdom specific

KPMG hit with £4 5m fine over Rolls-Royce bribery scandal

A fine of £4.5m could be levelled at KPMG by the FRC before the week is out, according to a recent report by Sky News

United kingdomCity ofClaudia mortimoreGavin hayesAnthony sykesFinancial reporting councilSerious fraud officeInstitute for internal auditorsExecutive counselAccountancy ageChartered institute

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