Audit-is-cool is pleased to accumulate
and provide its readers with the news on audit and related topics:
September 1, 2015
Accountancy Live
Audit Updates: September 2015
Charity
Commission financial probe of Swimming Teachers’ Association
The non-ministerial
government department that regulates registered charities recently held a
financial investigation at Swimming Teachers’ Association (STA) – to inquire
upon the
charity’s governance, financial controls and a plan for organisational changes,
which posed a potential risk to its assets.
10-year audit tender rules for public interest entities
The UK government recently pronounced thru a
written ministerial statement that public interest entities (PIEs) will be required
to put their audit out to tender at least every 10 years. Further, the
requirement to change auditor was ruled every 20 years. The confirmation
statement also emphasized the authority and audit regulation roles of the
Financial Reporting Council (FRC) and recognised supervisory bodies such as the
Institute of Chartered Accountants in England and Wales (ICAEW).
Audit win: PwC keeps flying with easyJet
After meetings with each of the top 10 audit
firms in the UK, the board of easyJet is set to recommend the reappointment of PricewaterhouseCoopers
(PwC) as the company’s auditor for the year ending 30 September 2016 to
shareholders at the annual general meeting in February 2016.
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