News & Analysis as of

Auditors Audits United Kingdom

Hogan Lovells

Auditors’ liability – English case casts doubt on effectiveness of disclaimers in negligence actions

Hogan Lovells on

A recent English case may cause concern amongst Hong Kong auditors hoping to protect themselves from liability towards third parties by the inclusion of standard disclaimer wording in their engagement agreements. The decision...more

Orrick, Herrington & Sutcliffe LLP

English High Court Sheds Light on the Scope of an Auditor’s Duty in Ickenham Travel Group Limited v Tiffin Green Limited

The High Court recently dismissed a claim by Ickenham Travel Group Limited (ITG) against its former auditor, Tiffin Green Limited. The decision sheds light on how English courts are likely to approach audit negligence...more

Cooley LLP

Alert: UK Financial Reporting Council Publishes Updated Guidance on Modifications of Audit Opinions and Reports

Cooley LLP on

In its March guidance for auditors, the UK Financial Reporting Council (FRC) recognised the practical difficulties some companies and auditors are facing in preparing accounts and carrying out audits. The FRC highlighted the...more

Dechert LLP

The Potential Impact of the COVID-19 Coronavirus on EBITDA and Financial Covenant Calculations in Loan Agreements

Dechert LLP on

Whilst the full scope of the potential impact of COVID-19 for financial covenant calculations and other purposes within loan agreements can only properly be assessed on a deal-by-deal basis, it is still possible to identify...more

Cooley LLP

Alert: UK Financial Reporting Season:UK Financial Reporting Council Publishes Guidance for Auditors on Audit Issues

Cooley LLP on

On 16 March 2020, the UK Financial Reporting Council (FRC) issued updated guidance for auditors which may be facing practical difficulties in carrying out audits as a result of the COVID-19 pandemic....more

A&O Shearman

Privilege in regulatory investigation context: Sports Direct v Financial Reporting Council

A&O Shearman on

Sports Direct has successfully appealed a problematic first instance decision that allowed the Financial Reporting Council (FRC) access to privileged communications. The judgment provides welcome confirmation to companies...more

White & Case LLP

Managing the Tension – the protection of privilege in a company audit

White & Case LLP on

The recent case of Financial Reporting Council Limited v Sports Direct International Plc1 serves as a reminder of the tension between companies wishing to protect privileged information and auditors receiving and relying upon...more

A&O Shearman

Financial Reporting Council granted access to privileged documents of auditor’s client

A&O Shearman on

The Financial Reporting Council (FRC), the regulatory body for accountants, auditors and actuaries in the UK, was allowed access to privileged material of a client of an auditor under investigation....more

K&L Gates LLP

Competition Commission stops short of requiring Mandatory Rotation of Auditors

K&L Gates LLP on

As part of its ongoing investigation into the UK audit services market, the Competition Commission ("CC") has provisionally decided on a package of remedies that will require FTSE 350 companies to put auditing contracts out...more

9 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide