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Latest News - Regulation

IFRS interpretation exacerbated banking crisis, Tweedie

  • Author: TA editorial
  • Published: 30 Jan 2013

Former International Accounting Standards Board (IASB) chairman David Tweedie claims banks’ efforts to get around IFRS exacerbated the banking.... read more

FRC takes no action against E&Y over Lehman audit

  • Author: IAB editorial
  • Published: 29 Jan 2013

The UK Financial Reporting Council (FRC) has concluded that no action will be taken against Ernst and Young (E&Y) concerning the audit of Lehman.... read more

ESMA finds limited impairment losses of goodwill

  • Author: TA editorial
  • Published: 22 Jan 2013

Significant impairment losses of goodwill among European issuers are limited to only a handful, a report by the European Securities and Markets.... read more

UK Draft Local Audit Bill too risky, warn MPs

  • Author: TA editorial
  • Published: 17 Jan 2013

UK MPs have warned that the Draft Local Audit Bill still contains risks and gaps which require serious attention.. read more

PCAOB inspections show audit deficiencies up

  • Author: IAB and TA editorial
  • Published: 4 Jan 2013

The amount of audit failures detected in the work of US firms BDO, Ernst & Young (E&Y) and Grant Thornton have increased according to the latest.... read more

Benefits of mandatory audit firm rotation questionable: ICAS

  • Author: TA editorial
  • Published: 19 Dec 2012

Research by the Institute of Chartered Accountants of Scotland (ICAS) has found ‘no conclusive’ evidence that mandatory audit firm rotation.... read more

EC to propose mandatory non-financial reporting

  • Author: Carlos Martin Tornero
  • Published: 18 Dec 2012

The European Commission (EC) will propose a change in European Union (EU) law to make further non-financial disclosures for certain companies.... read more

PCAOB finds deficiencies in ICFR audit opinions

  • Author: TA editorial
  • Published: 11 Dec 2012

The Public Company Accounting Oversight Board (PCAOB) has found shortfalls related to Internal Control over Financial Reporting (ICFR) in the.... read more

Austria: Parliament passes reporting law

  • Author: TA editorial
  • Published: 11 Dec 2012

Austria is to establish an enforcement process to control the financial reporting of companies listed on the Vienna stock exchange.. read more

ESG reporting increases among South African companies in 2012

  • Author: Jonathan Minter
  • Published: 10 Dec 2012

The number of South African companies increasing their sustainability reporting practices has improved in 2012, according to annual Johannesburg.... read more

ICAS warns against UK Gov’t cash-accounting measure

  • Author: TA editorial
  • Published: 5 Dec 2012

The Institute of Chartered Accountants in Scotland (ICAS) has warned that UK Government plans to introduce cash-based accounting for unincorporated.... read more

PCAOB Publishes Staff Audit Practice Alert

  • Author: Jonathan Minter
  • Published: 5 Dec 2012

The Public Company Accounting Oversight Board (PCAOB) has published its tenth staff audit practise alert, entitled “Maintaining and Applying.... read more

BOE: IASB and FASB need to agree on UK banks’ buffers

  • Author: TA editorial
  • Published: 30 Nov 2012

Transition to an international accounting regime characterised by forward-looking provisions on bank’s losses needs to be speeded up, the Bank of.... read more

ACCA urges BIS to underpin coherence in narrative reporting

  • Author: Carlos Martin Tornero
  • Published: 23 Nov 2012

The Association of Chartered Certified Accountants (ACCA) has welcomed the government’s draft regulation on narrative reporting but warned the.... read more

UK accountants see revenue potential in RTI

  • Author: Jonathan Minter
  • Published: 21 Nov 2012

A survey of 222 accountants by UK accountancy and payroll software provider IRIS Software Group has found 62% of accountants see new revenue.... read more

IASB to discuss ‘disclosure overload’ at forum

  • Author: TA editorial
  • Published: 14 Nov 2012

The International Accounting Standards Board (IASB) is planning to host a public disclosure forum on 28 January 2013 to consider ‘disclosure.... read more

CAQ issues PCAOB inspections guide

  • Author: TA editorial
  • Published: 14 Nov 2012

The Center for Audit Quality (CAQ) has issued a guide on US Public Company Accounting Oversight Board (PCAOB) inspections of public company.... read more

PCAOB inspections still find significant audit deficiencies

  • Author: TA editorial
  • Published: 31 Oct 2012

The Public Company Accounting Oversight Board (PCAOB) continues to observe serious audit deficiencies in public companies audits as a result of its.... read more

Regulator cooperation key to investors' protection: Doty

  • Author: Carlos Martin Tornero
  • Published: 4 Oct 2012

Any effort to improve audit quality should hinge on extended regulatory coordination and deepened auditor independence, according to the chairman.... read more

FRC to focus on improving codes and standards in year ahead

  • Author: Peter Johnstone
  • Published: 3 Oct 2012

The UK Financial Reporting Council (FRC) plans to focus on improving codes and standards, international influence, strengthening conduct work and.... read more

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