Watchdog plans for audit sector shake-up set to draw backlash from businesses January 6, 2019 Finance bosses at some of Britain’s largest FTSE companies are set to hit out at new proposals put forward by the UK’s competition regulator, it emerged this evening. Plans by the Competition and Markets Authority (CMA) to make publicly listed firms appoint two sets of auditors are expected to receive a harsh backlash from a [...]
Ollie Phillips: Mike Ford needs to galvanise Leicester to move them away from Premiership relegation April 4, 2019 There are five games left in the Premiership season and it’s crunch time at the bottom where four teams are battling it out to avoid the dreaded drop. Of the four it’s Leicester Tigers who are most unused to their standing, having slumped to 10th place and five points above the drop through a run [...]
Government borrowing higher than expected in December but annual borrowing falls to 16-year low January 22, 2019 Government borrowing came in higher than expected in December as the UK received less money back from the EU. Public sector net borrowing climbed to £3bn in December, £300m higher than the same month in 2017 and more than the £1.9bn City economists had expected. The Office for National Statistics said this was partly due [...]
Evans Cycles set for closures in spite of ‘profit’ November 18, 2018 Sports Direct owner Mike Ashley is set to close a swathe of Evans Cycles stores in spite of recent suggestions that most of its outlets turn a profit. The retail magnate has warned that he might only be able to keep half of Evans Cycles stores open in the future “in order to save the [...]
Report into audit sector commissioned by John McDonnell calls for break-up of Big Four December 14, 2018 A report into the audit sector commissioned by shadow chancellor John McDonnell has called for the break-up of the Big Four audit firms. The report, published today, recommended that the audit business of accounting firms must be legally separate from everything else and says it should be a criminal offence for auditors to perform non-audit [...]
Thomas Cook collapse: Regulators and business groups clamour for answers September 24, 2019 Regulators and business groups today lined up to demand answers over the collapse of holiday giant Thomas Cook. Accounting watchdog the Financial Reporting Council said it is mulling a full-scale probe into whether it breached accounting standards. A spokesman said it is considering the case “as a matter of urgency”. Read more: Thomas Cook collapse [...]
Ollie Phillips: Home advantage weighs heavy for Saracens, Edinburgh, Leinster and Racing 92 in the Champions Cup March 29, 2019 The Six Nations finished two weeks ago but the tournament remains relevant as we head into the quarter-finals of the Champions Cup this weekend. The relationship between club sides and their countries is an interesting one and it’s born out when looking at the fixtures for Europe’s premier club competition. Wales won the Six Nations [...]
Asset managers back Big Four audit firms in competition watchdog consultation November 15, 2018 Investment management firms have called on the competition watchdog to ensure the quality of audit is not affected as it probes the dominance of the so-called Big Four firms. In a response to the Competition and Markets Authority Standard Life said the division of the dominant audit firms – PwC, Deloitte, KPMG and EY – [...]
Brexit stockpiling helps UK economy bounce back in first quarter of 2019 May 10, 2019 Experts hailed the UK economy’s “resilience” today as it rebounded in the first quarter of 2019 with growth of 0.5 per cent, according to the Office for National Statistics (ONS). Read more: The City powers the UK economy – it must not fall into Labour's hands That is more than double the low 0.2 per [...]
Patisserie Valerie exodus continues as deputy chairman steps down January 17, 2019 Patisserie Valerie has been burned further this morning by the walkout of its deputy chairman. Lee Ginsberg – a non-executive director at the beleaguered cafe chain, which is caught in a devastating alleged fraud – would resign with immediate effect, the company said in an update. Ginsberg had been chair of the audit committee at [...]