Publication
Horizon Scanning: Investigations and Enforcement
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
Global | Publication | January 8, 2016
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On January 5, 2016 the Financial Reporting Council (FRC) published its audit quality thematic review on firms’ audit quality monitoring. The review supplements the FRC’s annual programme of inspections of individual audit firms and looks at firms’ policies and procedures in respect of a specific aspect of audit, and their application in practice, to make comparisons between firms with a view to identifying both good practice and areas of common weakness.
In its review, the FRC looks at the following areas:
The review sets out several suggestions for audit committees to consider, intended to enhance the effectiveness of the audit committee's oversight of an audit and their evaluation of audit quality. The suggestions include the audit committee doing the following:
(FRC, Audit Quality Thematic Review: Firms’ audit quality monitoring, 05.01.16)
On January 7, 2016 the Institute of Chartered Accountants in England and Wales (ICAEW) published a guide setting out seven questions on corporate reporting that company directors, audit committee members and auditors should ask themselves in order to communicate clearly and honestly in their reports:
Publication
In this horizon scan, we focus on key developments affecting companies operating in the UK, including in light of the recent change in UK government.
Publication
On 3 September 2024, the ECJ delivered its judgment in Illumina’s appeal against the General Court’s (GC) judgment confirming the European Commission’s (EC) powers to review concentrations under the EU Merger Regulation (EUMR) in circumstances where no Member State has jurisdiction under national law.
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