UK - The Financial Reporting Council is increasing its efforts to take legal action against companies which do not comply with FRS17 accounting rules.
The council, which only acts on specific cases drawn to its attention by members of the public or cases publicised in the press, has established a panel to develop more proactive ways to promote good financial reporting.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.