FRC sends letter to Big Four outlining ‘operational separation’
By 
Neil Hodge2020-02-27T18:04:00
The U.K. Financial Reporting Council penned a letter to the Big Four outlining expectations for how the auditors should go about separating their audit work from their consultancy business.
Related articles
-
ArticleWill U.K. mandate that Big Four separate audit units make a difference?
The FRC hopes its demand that the Big Four isolate their audit units from their other businesses by 2024 will improve their ethical behavior … but some are skeptical.
-
ArticleFRC probes KPMG, PwC over audits of Eddie Stobart Logistics
The U.K. Financial Reporting Council has launched investigations into Big Four firms KPMG and PwC concerning the audits of U.K. logistics company Eddie Stobart Logistics.
-
ArticleKPMG faces $306M negligence claim over Carillion audit
U.K. government liquidators are preparing to sue KPMG for £250 million (U.S. $306 million) over alleged negligence in its audits of collapsed construction firm Carillion.
More from Accounting & Auditing
-
ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.
-
News BriefPCAOB chair Williams latest independent official pushed out by Trump
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.
-
News BriefPhoto gallery: Compliance Week Third-Party Risk Management Summit
Nearly 200 attendees gathered at the Hotel Zaza in Austin, Texas for Compliance Week’s 2025 June 3-4. This year’s conference brought together compliance professionals from across the globe to discuss how rapidly shifting politics, policies and supply chain realities are affecting their jobs, and share best practices to respond.