Kingman Review 2018 Recommendations
1 Assignment Auditing 1.1 Kingman Review 2018 Audit and regulation are presently receiving an unparalleled level of scrutiny: besides Sir John Kingman’s Independent Inquiry two other significant studies are underway . The Competition and Markets Authority (CMA) has concluded its market assessment of statutory audit services and released final recommendations on 18 April 2019 (Kingman, 2018) . There should be an independent regulator that is focused on the interests of consumers of financial data and that has greatly enlarged powers and goals to replace the FRC says the review. New regulator ARGA is recommended, and those who rely on it should dread it, while those who are subject to its control should fear it (Kingman, 2018) . This new regulator will be the audit, reporting, and governance authority (ARGA). ARGA should follow the recommendations of the review : · The establishment of a system should includes fines as well as a process for approvin