Wall Street’s top regulator on Tuesday voted 3-2 to bless new rules making it easier for an audit watchdog to hold people responsible for audit firms’ violations. Divided along party lines, the five-member U.S. Securities and Exchange Commission approved a …
Britain set out sweeping reforms of big company audits on Tuesday after high-profile collapses at builder Carillion and retailer BHS in recent years hit thousands of jobs and raised questions about accounting quality. The business ministry detailed changes to auditing …
KPMG faces a 14.4 million pound ($17.6 million) fine after admitting it misled regulators during spot checks on audits of construction group Carillion and software firm Regenersis. The Financial Reporting Council (FRC), the British auditing regulator, told a London tribunal …
Britain proposed weakening the market grip of “Big Four” auditors on Thursday and making company directors responsible for spotting fraud after the collapses of retailer BHS and builder Carillion. Directors would have to repay their bonuses if the company went …
Audit regulators are watering down a proposed rule aimed at increasing auditors’ accountability for their work after the industry said that it would open them up to private lawsuits. The Public Company Accounting Oversight Board may allow auditors to skirt …
