What challenges will audit firms face to obtain sufficient evidence to evaluate and conclude on Going Concern related decisions and disclosures? Throughout most of 2020, businesses faced uncertainty caused by the COVID-19 pandemic. Periodic lockdowns, travel restrictions and reduced consumer confidence led to many of them experiencing precipitous declines in sales, soaring losses, and upheaval […]
In the Press
How might UK mandate for audit to find fraud work in practice?
The U.K. government on March 18 set out a series of proposals that would impose additional duties on both company directors and audit firms to detect and prevent fraud as part of a raft of measures designed to improve auditing and corporate governance In this article for Compliance Week, FRA Partner Charlie Patrick offers his […]
Failure of EFL salary cap points to need for cooperation and pragmatism
Will efforts to implement cost control measures continue in 2021? Last month, an independent arbitration panel determined that the English Football League (EFL) breached its legal obligations when planning to introduce a new salary cap in League One and League Two back in August 2020. The newly proposed, yet ultimately short-lived, salary cap regulations can […]
Anticipating Compliance Needs as UK Sanctions Regime Takes Shape
Considerations in building a robust and nimble compliance programme as the UK enters the international sanctions regime The early days of the UK’s new autonomous sanctions regime – now free from EU consensus to move at its own pace – has made clear that sanctions are here to stay. What can we read from the […]
Regulators have to front up to the cryptocurrency challenge as Bitcoin goes mainstream
Will Digital Currency Remain as Volatile as Ever as Seen in The Past and End in a Dramatic Sell-off, or Will The Surge Continue? Individuals and corporates are all diving into the world of Bitcoin. With the recent surge in value of Bitcoin, it has cause a major acknowledgement for cryptocurrency from all quarters, with […]