The uncertainty caused by COVID-19 is causing companies in Europe to reevaluate their ability to continue as a going concern. A going concern modification is the expressed uncertainty that a company is unable to continue in the near future. Generally … Continue reading
Author Archives: Maripat Brown
A Summary of FRC’s Developments in Audit 2019
On November 5, 2019, UK’s Financial Reporting Council (FRC) released its Developments in Audit 2019 survey to highlight the Council’s audit monitoring and enforcement results for the previous year. Included in the report are some observations on the current audit market … Continue reading
Market Concentration of PIEs – An Analysis of Transparency Report Data
Audit Analytics collects all EEA and member-state defined Public Interest Entities (“PIEs”) disclosed by audit firms in annual transparency reports. Public Interest Entities are: Entities traded on a regulated market of an EU Member State; Credit institutions; Insurance undertakings; or … Continue reading
CMA Releases Final Report on the Statutory Audit Market
Last week, the Competition & Markets Authority (CMA) released its final report, concluding its investigation into the UK audit market. The report recommended some major reforms “to address serious competition problems in the UK audit industry”. The study, which was … Continue reading