Categories
Mr Kwarteng said: "Restoring business confidence, but also people's confidence in business, is crucial to repairing our economy and building back better from the pandemic.
The new proposals would require KPMG, Deloitte, PwC and EY to make their audits more rigorous.
Under the new rules, large companies would be required to use smaller auditing firms to conduct part of their annual audit, in an attempt to dilute the Big Four's dominance
The new proposals would require KPMG, Deloitte, PwC and EY to make their audits more rigorous
Proposals to reduce the dominance of the "Big Four" accountancy firms and scrap the industry regulator have been unveiled by the government.
An international standards body wants to consult members on the so-called expectation gap - the idea that the public expects too much from an audit
But pensions advisor Pirc will write to the UK's big audit firms warning them to reject the consultation on how far they should go to spot fraud
The National Audit Office also conducts value for money examinations on the use of the licence fee and in relation to the BBC’s commercial activities
A Memorandum of Understanding between the BBC and the National Audit Office has been published, setting out the way in which this process will be implemented
"By restoring confidence in audit and corporate reporting we will strengthen the foundations of UK plc, so it can drive growth and job creation across the country
" A new watchdog will prevent sudden large-scale collapses like Carillion and BHS, the government saysIt also oversees and directs the work of the BBC’s internal audit function, including an annual work programmes, and reviews the external auditors’ proposed audit scope and strategy
Minutes will be published two weeks after they have been approved, which usually happens at the next committee meeting
The Comptroller and Auditor General is the BBC’s external auditor and is supported in this role by the National Audit Office (NAO) The Comptroller and Auditor General and the NAO are independent of Government
Outline of controversies about the BBC
The various controversies surrounding or involving the BBC.
British national alternative music radio station
BBC Radio 6 Music is a British digital radio station owned and operated by the BBC
Specialising primarily in alternative music.In 2002 it was the first national music radio station to be launched by the BBC in 32 years.It is available only on digital media:
And throughout northern and western Europe through the Astra 2B satellite.
International radio division of the BBC
?million people a week.In November 2016
The BBC announced that it would start broadcasting in additional languages including :
Amharic and IgboIn its biggest expansion since the 1940s.