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Latest News - Regulation

News brief: PwC UK fined £5m for misconduct

  • Author: Rahman Aziz
  • Published: 11 May 2017

The UK Financial Reporting Council (FRC) has fined PwC UK and its former audit partner Stephen Harrisson, £ 5m and £150,000 respectively for.... read more

USA finance professionals call to preserve the Sarbanes-Oxley Act as it is

  • Author: Sarajuddin Isar
  • Published: 9 May 2017

The Centre for Audit Quality (CAQ), the Council of Institutional Investors (CII), and the CFA Institute have jointly presented their opposition to.... read more

EITI calls on Niger to enforce adopted reforms for greater transparency in its extractives sector

  • Author: Stephanie Wix
  • Published: 8 May 2017

The Extractive Industries Transparency Initiative (EITI) has called on Niger's government to enforce reforms adopted in 2010 in order to foster.... read more

EU Data protection rules will directly impact professional accountants

  • Author: Stephanie Wix
  • Published: 5 May 2017

The General Data Protection Regulation (GDPR) coming into force in the EU from 25 May 2018 will apply to everyone dealing with personal data.... read more

Audit committees can contribute further to audit quality, IFIAR

  • Author: Sarajuddin Isar
  • Published: 4 May 2017

Audit committees around the globe should focus on more and better communication as well as defining better criteria that determine their.... read more

FRC publishes framework to improve quality for future digital reporting

  • Author: Rahman Aziz
  • Published: 3 May 2017

The Financial Reporting Council (FRC) Lab has published a framework for future digital reporting, to improve quality and for views to be shared by.... read more

Canada Securities Administrators launch consultation on oversight requirements for foreign audit firms

  • Author: Stephanie Wix
  • Published: 3 May 2017

The Canadian Securities Administrators (CSA) has launched a consultation paper entitled Auditor Oversight Issues in Foreign Jurisdictions on 25.... read more

Language and bureaucracy challenges the adoption of IFRS in Brazil

  • Author: Stephanie Wix
  • Published: 2 May 2017

Brazilian accountants have recognised the benefits of 12 years of International Financial Reporting Standards (IFRS) as they have seen improvement.... read more

The importance of the role of the auditor and annual reports discussed by FRC

  • Author: Rahman Aziz
  • Published: 28 Apr 2017

The Financial Reporting Council (FRC) has considered the importance of an auditors role and the release of preliminary announcements on annual.... read more

Securities Commission Malaysia releases new code on corporate governance

  • Author: Rahman Aziz
  • Published: 27 Apr 2017

The Malaysian Securities Commission has released the new Malaysian Code on Corporate Governance (MCCG) to strengthen corporate culture by placing.... read more

News brief: Singaporean institute publishes accounting model for micro, small and medium businesses

  • Author: Stephanie Wix
  • Published: 26 Apr 2017

The Institute of Singapore Chartered Accountants (ISCA) has developed a Micro Accounting Model (MAM) to help the adoption of accrual accounting for.... read more

News brief: IASB plans amendments to IFRS 9 to address pre payable financial assets

  • Author: Rahman Aziz
  • Published: 24 Apr 2017

The International Accounting Standards Board (IASB) plans to draft amendments to the financial instruments standard, IFRS 9, before it has even.... read more

Afghanistan president signs decree paving the way for the long awaited regulation of the accountancy profession

  • Author: Sarajuddin Isar
  • Published: 20 Apr 2017

Afghanistan president Ashraf Ghani has signed a presidential decree on the Afghanistan Accountants Law paving the way for the regulation of the.... read more

KPMG removes 6 personnel including their head of audit over unethical behaviour

  • Author: Stephanie Wix
  • Published: 13 Apr 2017

Big Four firm KPMG has fired six audit personnel including four partners, one employee and the head of the audit practice in the USA, for violating.... read more

Gender pay gap reporting requirements puts equality in the spotlight

  • Author: Stephanie Wix
  • Published: 12 Apr 2017

A transparency initiative on the gender pay gap has led to reporting requirements being put into force from 5 April 2017. Private and voluntary.... read more

Patchy implementations of EU audit reform

  • Author: Stephanie Wix
  • Published: 11 Apr 2017

An overview of the implementation of the European Union audit reform, which came into force last June, shows consistency among member states in.... read more

News brief: IFIAR opens headquarters in Tokyo

  • Author: Stephanie Wix
  • Published: 10 Apr 2017

The International Forum of Independent Audit Regulators (IFIAR) has opened its headquarters in Tokyo, Japan and has held its first board meeting.. read more

Singaporean regulators and institutes release retail investors’ guide to enhanced auditor’s report

  • Author: IAB and TA editorial
  • Published: 7 Apr 2017

To help investors understand the enhanced auditor report (EAR) which is implemented as of this year, The Singaporean regulators, the Accounting.... read more

Former Deloitte Brazil chairman and CEO sanctioned by PCAOB

  • Author: Rahman Aziz
  • Published: 4 Apr 2017

Former Deloitte Brazil chairman Michael John Morrell, and former CEO and managing partner Juarez Lopes de Araujo, have been sanctioned for.... read more

News brief: Scottish cabinet secretary for finance calls for public services digital transformation

  • Author: Stephanie Wix
  • Published: 31 Mar 2017

Scotland must enact digital transformation to encourage public service reform, according to the Scottish government’s cabinet secretary for.... read more

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