Search Results for: Audi
European Audit Regulators on audit quality issues
December 1st, 2014
Independent audit regulators from Europe, including the Luxembourg, have structured meetings with different stakeholders on audit quality issues. In November, the European Audit Inspection Group (EAIG) met KPMG’s European leadership and the audit standard setters (IAASB/IESBA boards). The meetings are intended to ...
Deloitte Said to Face Saudi Regulator’s Ban on Audit Work
December 1st, 2014
Deloitte LLP may be blocked from auditing companies in Saudi Arabia after the country’s market regulator told firms registered in the kingdom to stop using its local services, according to a circular obtained by Bloomberg. The Capital Market Authority ...
Saudi, UAE signal no push for OPEC oil cut
November 26th, 2014
OPEC leader Saudi Arabia and fellow member the United Arab Emirates signalled on Wednesday they were unlikely to push for a major change in oil output at the group’s meeting this week to prop up prices that have collapsed by a ...
Investigation of Mobily accounting errors key test of Saudi Arabia’s governance resolve
November 24th, 2014
An investigation into accounting irregularities at Saudi Arabia’s No 2 phone operator is shaping up as a key test of governance as the kingdom’s markets open up to foreign investment Shares in the Saudi phone operator Etihad Etisalat, also ...
Tesco poised to dump auditor after accounting scandal
November 19th, 2014
Tesco could be on the verge of dumping PwC, its auditor of 31 years, over its apparent failure to identify the accounting problems that led to a black hole in its books. The Evening Standard understands that board members ...
EY ends Deloitte’s 14-year audit role at RBS
November 4th, 2014
EY has emerged victorious in the battle to secure the lucrative RBS audit account. The bank announced that EY had wrested the account from incumbent Deloitte, which has been the institution’s auditor since 2000. Last year RBS paid Deloitte ...
Oil slides after Saudi cuts to US prices
November 4th, 2014
Oil prices fell sharply on Tuesday after Saudi Arabia on Monday lowered the price it charges customers in the US in an effort to prop up its share of the American market. West Texas Intermediate fell as much as ...
Saudi bank IPO 16 times oversubscribed
November 3rd, 2014
A share offer by Saudi Arabia’s National Commercial Bank was 16 times oversubscribed late on Sunday, in what one financial analyst called “the mother of all IPOs.” The initial public offering by the NCB, which was hoping to raise ...
RBS Leans Towards Naming EY As New Auditor
October 31st, 2014
Royal Bank of Scotland (RBS) is leaning towards appointing the smallest of the big four accountancy firms as its new auditor, a move that would spell the end of its relationship with Fred Goodwin’s erstwhile employer. RBS is closing ...
Latham and Bakers’ Saudi associates take key roles on $6bn National Commercial Bank IPO
October 27th, 2014
Latham & Watkins and Baker & McKenzie’s association firms in Saudi Arabia have won key roles advising on the IPO of the country’s largest lender, the National Commercial Bank (NCB). The $6bn (£3.7bn) flotation is the largest-ever listing in ...
