International accounting

The framework will govern how the board determines if it can’t inspect or investigate a foreign accounting firm.

Deloitte reported its global revenue grew 5.5% in the fiscal year ending May 31, 2021 to $50.2 billion as the firm increased its workforce 3.2% to 345,000.

The FRC filed a disciplinary complaint against KPMG LLP, a former partner and current and former employees over their role in past audits of two companies.

The Big Four firm was fined a reduced penalty of about 2.2 million pounds ($3 million) due to mitigating circumstances.

A string of high-profile scandals have pushed the work of the world’s biggest auditors back into the spotlight.

The International Accounting Standards Board proposed to reduce the disclosure requirements for eligible subsidiaries under International Financial Reporting Standards.

Even as Mike Lynch faces potential extradition to the U.S. on fraud charges, those who have stayed loyal to him are reaping the rewards.

The U.K.’s industry regulator said it was “unacceptable” that for the third year running the accounting firm’s work wasn’t up to scratch.

The hospital operator’s founder said the firm enjoyed a “deep and cozy” relationship with executives at the troubled company.

The Institute of Management Accountants officially appointed J. Stephen McNally as chair of the IMA’s global board of directors, and he plans to focus on the organization’s growing presence internationally.