UK accounting watchdog to name and grade poor audits
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LONDON (Reuters) - Britain's accounting watchdog plans to publish its grades for audit inspections after company failures at builder Carillion and retailer BHS prompted lawmaker calls for a crackdown.The Financial Reporting Council (FRC) said in its Developments in Audit Report for 2019 that the quality of audits at the seven biggest accountancy firms was still not consistently reaching the necessary high standards expected.Accountants "struggle" to sufficiently challenge what clients tell them,..