- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Big Four accounting expert James Peterson discusses ways in which the United Kingdom may dismantle the Big Four, the possible consequences of each of the proposals, and which he thinks is the better solution.
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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.
The Big Four’s dominance of the U.K. audit market has grown even further in the past year, according to the Financial Reporting Council’s latest report.
The head of one of the United Kingdom’s biggest accountancy firms has said the audit market is “clearly broken” and “trust needs to be restored,” though how that should be done is “not clear.”
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
