A summer to forget: KPMG reputation dealt another blow after admitting to compliance report misconduct September 19, 2018 Scandal-hit KPMG has admitted to misconduct over compliance reports made for a unit of the Bank of New York (BNY) Mellon Group in another fresh embarrassment for one of the Big Four accountancy firms. The UK’s accountancy watchdog said today that KPMG and one of its partners Richard Hinton accepted they had fallen short of standards [...]
A summer to forget: KPMG reputation dealt another blow after admitting to compliance report misconduct September 19, 2018 Scandal-hit KPMG has admitted to misconduct over compliance reports made for a unit of the Bank of New York (BNY) Mellon Group in another fresh embarrassment for one of the Big Four accountancy firms. The UK’s accountancy watchdog said today that KPMG and one of its partners Richard Hinton accepted they had fallen short of standards [...]
Prince Andrew steps back from Royal duties but will continue business role November 20, 2019 PRINCE Andrew last night said he will step back from Royal duties as corporate sponsors continued to sever ties with his entrepreneurship schemes following his widely criticised BBC interview. The announcement from the palace came hours after two more FTSE 100 companies abandoned the prince amid the fallout from his Newsnight grilling over links to [...]
Lord Ashcroft’s Devonshire Club at risk of closure as coronavirus stalls takeover March 9, 2020 An exclusive private members’ club co-owned by Tory peer Lord Ashcroft is fighting for survival after a planned takeover deal collapsed due to the coronavirus outbreak. The Devonshire Club, close to Liverpool Street station in the City, had agreed terms with an unnamed buyer, with the deal set to complete this week. However, the firm [...]
Freshfields suspends partner profit distribution and freezes pay April 6, 2020 Magic Circle law firm Freshfields Bruckhaus Deringer has suspended partner profit share for the fourth quarter and frozen pay across the firm to help weather the economic crisis triggered by coronavirus. The firm has also deferred decisions on staff bonuses until later in the year. A Freshfields spokesperson said: “We are focused on supporting our [...]
Mifid II review could lead to unexpected changes says former MEP February 17, 2020 A key contributor to the European Mifid II financial regulations today warned that plans for reforms of the rules could lead to unexpected consequences. The European Commission today launched a consultation on changes to the Mifid II rules, with possible changes including the establishment of a single record of trading data from the separate national [...]
UK’s £225bn professional services industry risks ‘catastrophic’ hit from Brexit October 14, 2020 Britain’s £225bn professional services industry has been ignored by the government and is under “catastrophic” threat of losing business to the EU post-Brexit, a parliamentary committee has warned. A House of Lords’ EU services subcommittee report published yesterday said the UK’s accountants, lawyers, recruiters, architects and advertisers are under risk of losing contracts and jobs [...]
Facebook shops for customers as e-commerce explodes May 22, 2020 Do you remember when you needed a new item of clothing and headed to the high-street to browse the shops? Perhaps a few try-ons in different places before making your selection? Coronavirus means that’s obviously not possible at the moment, meaning a choice of either waiting until lockdown passes or going online. More and more [...]
KPMG hit with £2.1m fine for misconduct on Ted Baker audit August 20, 2018 KPMG has been fined £2.1m by the accountancy watchdog over its audit of fashion retailer Ted Baker. The Financial Reporting Council (FRC) has fined and “severely reprimanded” the accountancy giant following its admission of misconduct in relation to the audits between January 2013 and January 2014. Senior statutory auditor Michael Barradell has also been fined [...]
Ailing economy puts strain on UK tech growth August 12, 2019 Following seven years of consecutive expansion in the fastest-growing sector of the UK economy, signs have emerged that growth in British tech has begun to slow. Business activity in the UK tech sector dropped from 54.4 in the first quarter to 53 in the second, according to a closely-watched industry bellwether index. Data from KPMG’s [...]