The UK Financial Reporting Review Panel (FRRP) enforces the regulatory framework for larger companies and requires companies to restate non-compliant accounts. It is authorized to deal with directors but not auditors. Recent UK based research indicates a belief that the FRRP's activities have...

The Financial Reporting Review Panel (FRRP) was an innovation in the UK as it was responsible for the previously little considered issue of ensuring compliance with financial reporting regulations. This paper draws on institutional theory to compare the stated aims, objectives and operating...

The UK regime for financial reporting and auditing was radically altered in 1990 and 1991 by two separate developments. When removing sole responsibility for setting accounting standards from the accounting profession, the opportunity was taken to establish a monitoring body, the Financial...

As part of a deregulation initiative for small businesses, the audit exemption limit was raised to £1m by the Audit Exemption (Amendment) Regulations 2000 in May 2000. This paper examines the possible consequences of this change on the supply of registered auditors' services and the subsequent...

On 16th April, 2002, the authors gave oral evidence to the House of Commons Treasury Committee Inquiry into Financial Regulation of Public Limited Companies which was set up following the collapse of Enron. This paper is adapted from the written submission to the Committee on which their oral...

The principles-based U.K. regulatory framework for auditor independence (Chartered Accountants Joint Ethics Committee 1996), which was adopted in 1997, identifies threats to independence in fact, independence in appearance, and the safeguards that control these threats. These principles are...

The central research question addressed in this paper is‘How do companies and their auditors resolve important audit issues?’ In-depth interviews are conducted with the audit partners and finance directors of a varied group of six major UK listed companies who had recently experienced audit...