- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The U.K. Financial Reporting Council fined Deloitte a record £15 million (U.S. $19.4 million) for numerous findings of misconduct regarding past audits of British software company Autonomy Corporation.
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The U.K. Financial Reporting Council has launched an investigation into Deloitte regarding its audits performed at passenger transport company Go-Ahead Group.
Companies should question their auditors throughout the audit process, particularly in the wake of a spate of recent enforcement actions in the United Kingdom targeting the Big Four and other large firms for audit deficiencies.
The Financial Reporting Council published the results of its latest round of audit inspections, concluding one-third of the reviewed audits conducted by the seven largest U.K. firms required a notable level of improvement.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
