Concerns over adherence with professional standards have prompted the Financial Reporting Council to launch an investigation into the conduct of an accountant at Thurrock Council following failed...
A lack of auditor capacity and complex accounting requirements worsened the local audit crisis and meant the Financial Reporting Council could only inspect four financial statements in 2022-23.
Local audit firms have been told by the Financial Reporting Council to “urgently” improve the quality and timeliness of their work, after the number of unacceptable audits rose last year.
The government is set to make it a statutory requirement for councils in England to have independent members on audit committees as part of local audit reforms.
The Financial Reporting Council has fined accountancy firm KPMG £14.4m after finding it provided false and misleading information to its review of the firm's audit of collapsed public...
The Financial Reporting Council is set to investigate the financial statements of a transport operator, after the company was at the centre of an accounting scandal.
A senior external auditor is set to become the first director of local audit at the Financial Reporting Council, as part of sector-wide reforms to improve standards.
The chief executive of audit firm KPMG has apologised for misleading the Financial Reporting Council during a quality review of an audit of financial statements produced by former...
The Financial Reporting Council has fined accounting firm Mazars £250,000 over "insufficient and undocumented” challenge on the valuation of refurbishment costs in a local authority audit.
The quality of local audit improved on last year despite "disappointing" performance on meeting deadlines, according to the Financial Reporting Council.
Accountancy firm Grant Thornton has been fined more than £700,000 by the Financial Reporting Council for serious failures connected to its auditing of outsourcing firm Interserve.
Accountancy firm Grant Thornton has been sanctioned by the Financial Reporting Council for failures in its audits of Patisserie Valerie before the café chain company collapsed, showing “a serious...
The Financial Reporting Council has filed a formal complaint against accountancy firm KPMG, in relation to allegations of supplying false and misleading information to the regulator's review of...
Amendments to international reporting standards proposed this week will see auditors demand more involvement with councils' processes for identifying fraud, an expert told PF.
Audit firms Mazars and Grant Thornton have been asked to implement quality action plans after the Financial Reporting Council was critical of audit quality.
