The rate of going concern opinions (GCOs) has been rising among northern European companies over the past decade. At the start of the decade, about 2% of companies headquartered in Scandinavian countries received a going concern opinion. GCOs peaked during … Continue reading
Category Archives: Europe
Going Concern Trends in the British Isles
London Stock Exchange Going concern opinions (GCO) grew rapidly among companies headquartered in the British Isles during FY2019. The COVID-19 pandemic drove the increase. The UK audit regulator, the Financial Reporting Council (FRC), issued a Bulletin in March 2020 concerning … Continue reading
Climate Change in Audit Matters
The effects of climate change, and the accompanying disclosures, have risen to the forefront of the conversation for public companies. For example, in the US, the SEC has begun issuing climate-change-related comment letters. There are a variety of impacts that … Continue reading
Financial Restatements in the UK
We will finish our review of accounting quality by looking at financial restatements in the UK. Over the past few years, the number of companies listed on the London Stock Exchange that have restated their financials has grown. This analysis … Continue reading
Who Audits Public Companies – The Netherlands 2020
This post is a part of Audit Analytics’ series on audit market concentration across select countries in Europe. In 2020, the Big Four continued their oligopoly across the top three indexes on the Euronext Amsterdam. However, unlike our previous analysis of … Continue reading
Who Audits Public Companies – United Kingdom 2020
This post is a part of Audit Analytics’ series on audit market concentration across select countries in Europe. Overall, the Big Four firms retained 84.3% of the market share for the major UK indices in 2020, a slight decline from the … Continue reading
Who Audits Public Companies – Spain 2020
The audit market for companies listed on the Bolsas y Mercados Españoles (BME) in Spain is highly concentrated; 21 accounting firms were engaged by 164 companies headquartered in Spain and listed on the Continuous Market at the end of 2020. … Continue reading