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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

Day will join the FASB from Ernst & Young LLP (EY), the global accounting and professional services firm, where he is a partner working in Professional Practice. Mr. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St. Louis, Missouri.

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UK Auditing Market Pressure Grows With Parliamentary Probe

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Parliament will commence an inquiry into the nation’s corporate auditing market, which is currently dominated by the Big Four accounting firms Deloitte, PwC, EY and KPMG, adding new pressure on an industry already being probed by other policymakers. Reports in Reuters on Sunday (November 11) said the U.K.

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Business Leaders Chosen To Scrutinize UK Accounting Watchdog

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M&G chief executive Anne Richards, HM Treasury non-executive director and deputy chair of Kinnevik Amelia Fawcett, and former audit partner at PwC and former chair of the Accounting Standard Board Mary Keegan are all on the panel. lender HBOS and, more recently, the collapse of government construction contractor Carillion.

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Head Of UK’s Financial Reporting Council Quits Amid Scrutiny

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s Financial Reporting Council is reportedly stepping down from the position amid continued scrutiny that the FRC lacks effectiveness to prevent corporate accounting scandals and industry failures. s auditing market as some policymakers have called on the government to break up the nation’s Big Four accounting firms.