Rivals PwC Deloitte and EY circle KPMG’s position as Bank of England auditor November 4, 2017 The Bank of England is reportedly seeking a new auditor, in a move which could see it part company with KPMG. Rivals are gearing up to take the role from KPMG according to Sky News. The firm has been the auditor for the central bank for a decade, having been brought in just before the [...]
UK house prices: Growth hits seven-year low as London house prices plunge amid Brexit uncertainty April 17, 2019 UK house prices grew at their slowest rate in seven years early in 2019 as London house prices plunged, according to data published today. Read more: London house prices: How Brexit has hit prices in your borough UK properties only grew by 0.6 per cent in February compared to the same month last year, the [...]
Diversity inside law firms is shifting from exceptional to expected March 8, 2019 Large corporate law firms are commonly perceived as conservative, exclusive clubs which only hire more of the same to maintain the monoculture. However, thankfully times change, and over the course of a generation the clubby institution of the large law firm is transforming to an extent which would have been unthinkable a few decades ago. [...]
A market cap is the quickest way to inject some competition into audit March 7, 2019 As you read this, the Kingman review, the Competition and Markets Authority review, the Brydon review, and the Business, Energy and Industrial Strategy Select Committee are all scrutinising the audit profession following a series of high-profile scandals. Failures such as Carillion, BHS, and Patisserie Valerie present very different problems, but each case rightly led to [...]
Thousands of stores fall off high street as retail woes worsen November 9, 2018 Fresh evidence of the retail woes facing Britain’s shopkeepers emerged this morning, with more than 2,500 stores vanishing from the high street over the first six months of this year. Some 14 stores have closed every day in the first half of 2018, as stiffer competition and higher costs make the retail struggle for survival [...]
Audit watchdog boss Stephen Haddrill set to step down amid probe October 28, 2018 The chief executive of the Financial Reporting Council (FRC), Stephen Haddrill, is reportedly preparing to step down amid a government probe into the watchdog’s operations. Haddrill is planning to leave within months, Sky News reported. He has led the FRC, which monitors and regulates the audit sector, since 2009. Citing an anonymous source, Sky said [...]
MPs call for full breakup of audit’s Big Four in wake of scandals April 2, 2019 MPs have triggered a war of words in the City after calling for a radical breakup of accountancy’s Big Four firms. A highly-anticipated report by the Business, Energy and Industrial Strategy (Beis) Committee, released today, said the audit and consultancy arms of Deloitte, EY, KPMG and PwC should be forcibly divided to drive up competition [...]
UK inflation falls to 20-month low led by cheaper petrol prices in Christmas boost for households December 19, 2018 UK inflation fell to a 20-month low in November led by cheaper petrol prices in a boost for consumers in the run up to Christmas. Consumer prices rose by 2.3 per cent in November, down from 2.4 per cent the previous month and the slowest rate since March 2017, according the Office for National Statistics. [...]
Ollie Phillips: England’s Grand Slam dream is gone but bittersweet Six Nations title still a real possibility February 28, 2019 England’s dream of a Grand Slam was ended by Wales last weekend but I still think they will win the Six Nations. So far Warren Gatland is looking like Mystic Meg because his prediction before the tournament looks to be coming true. The Wales coach said that if his side beat France in their opening [...]
Ollie Phillips: England will go route one and try a new tactic against Italy with Joe Cokanasiga and Ben Te’o back March 7, 2019 Italy head coach Conor O’Shea would have always been expecting a tough challenge at Twickenham on Saturday, but England’s line-up means they’re in for a torrid time. The Italians’ game is based on heart and physicality and I think that’s part of the reason why Eddie Jones has made five changes to his starting XV. [...]