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Regulator’s plans for audit separation slammed as ‘utterly inadequate’
By Emily Horton
July 7, 2020, Financial News
The Financial Reporting Council’s four-year deadline for the Big Four firms to separate their audit business from the rest of their advisory …
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Wirecard scandal puts regulators, EY in hot water
Germany’s financial regulator and accountants EY face anger over their roles in oversight of Wirecard, the German payments firm that collapsed this week owing billions of dollars.…
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Libor trap lurks in 2021 US stress tests
By Robert Mackenzie Smith
June 8, 2020, Risk
As Libor’s likely demise approaches, banks are fretting over how to model the adoption of replacement risk-free rates in next year’s round …
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Frustration mounts amid stagnant Brexit talks
By Alice Tchernookova
May 28, 2020, Practice Insight from IFLR
A number of market participants have reported feeling increasingly concerned and frustrated after a third round of Brexit talks proved …
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SOFR phase-in for cash products sparks ‘mismatch’ fears
By Ben St. Clair
May 14, 2020, Risk
A plan to move existing U.S. cash loans from Libor to a new risk-free rate over the course of one year could …
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Safe as houses? Trading from home tests bank defenses during crisis
By Huw Jones
April 22, 2020, Reuters
Trading worth billions of dollars has shifted to kitchen tables or bedrooms as traders work through the coronavirus crisis from home, testing patchy …
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Brexit: CCP access likely to pose biggest threat
By Alice Tchernookova
March 11, 2020, Practice Insight from IFLR
We’re now well into the transition period during which the U.K. and E.U. are set to decide the terms of …
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Watchdog expects Britain’s audit shake-up to start this year
By Huw Jones
March 5, 2020, Reuters
Radical reform of auditing in Britain could start this year via voluntary changes by the “Big Four” accounting firms that check the books …
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U.K. Regulator Asks Accounting Firms to Wall-Off Audit Practice, Install Separate Board
By Nina Trentmann
February 28, 2020, The Wall Street Journal
A U.K. regulator for audit and accounting is asking professional services firms to ringfence their audit practices and put in …
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Wirecard… the biggest accounting fraud? Is the customer’s money safe? The end of Banking-as-a-Service?
By Chris Skinner
Originally published at Chris Skinner’s blog, The Finanser
Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created …
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