- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Paul Hodgson2019-04-18T21:33:00
The U.K. Competition and Markets Authority (CMA) has recommended reform of the audit market aimed at increasing quality and competition and breaking the stranglehold of the Big Four accounting firms.
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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.
It’s been an intense year for the audit industry in the United Kingdom—and things are expected only to get tougher as a new audit regulator, with new leadership and stronger statutory powers, prepares to take the reins.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
P&O Ferries’ dismissal of 800 workers with immediate effect via prerecorded video before consulting unions or employees has united U.K. politicians of all parties to condemn the company. One problem: Its actions appear to be largely legal.
E-commerce giant Amazon has shut up shop in France because the cost of compliance with the country’s COVID-19 emergency measures is deemed to be too high.
European businesses may be putting themselves at risk because they mistakenly believe regulators are prepared to loosen the rules so companies can operate more easily as the coronavirus pandemic lingers on.
