The well documented collapse of Carillion in 2018 is an example of the failure to provide adequate financial oversight and assurance. The directors of Carillion have faced fines and board room bans, in a scathing report on the company’s corporate…
The spot light moves further in on auditors as the oversight of auditors is harmonized between the SEC and PCAOB. As the PCAOB proposes expanding liability for individual auditors and certain accounting firms, when they contribute to violations by the…
The PCAOB is looking to force auditors to consider whether a company is complying with all laws and regulations that apply to it. The result of which could mean that correspondence between companies and their Attorneys is subject to audit…
While the cybersecurity community gets engrossed in the SEC Cyber final ruling. A thought should be paid to the enclosed from the Securities and Exchange Commissions Chief Accountant ot the oversight of crypto trading platforms by audit firms. Why? The…
A great article on the challenges with managing the big four consultancys. A shake up maybe needed, regulation is most certainly required and forced separation and chinese walls will continue. But the fact remains no one ever got sacked for…
China has told state owned companies and those listed on the mainland to step up checks on auditors in what is thought to be in response to the tightening of controls on sensitive corporate information. It is a further example…
Regulators and in this case investors, seem to be taking active oversight of audit firms, highlighted by this judgement. KMPG were order to pay $231mn following a claim by investors of poor audit practice. At a time when we see…
Financial auditors are having a difficult time at the moment. With KPMG and a member of staff being fined over their role in the audit of the 2016 financial statements of Luceco. The Financial Reporting Council found multiple material misstatements…
Nearly 15 years ago I led a team that built the SoX program for a Japanese Corporate bank in London. Successfully audited by the big 4 over 3 years, with only minor remedial actions. With SoX, materiality was king. One…
We have seen allot of column inches over the past 7 days on audit. One wonders what is going to happen to the broader audit sector dominated by the big 4, following the recent collapse of banks in the U.S…
