Deloitte’s profits flatline after six month ban from UK government contracts August 29, 2017 Deloitte’s profits flatlined last year as the accountancy firm navigated a six-month ban from pitching for UK government contracts. The figures Revenue for the year ended 31 May rose 11.2 per cent to £3.4bn, with consultancy revenue up 13.6 per cent to £859m and revenue from Deloitte’s audit and risk advisory business up 13.1 per [...]
PwC grows revenues by 11 per cent and champion long-term investment in technology and people September 12, 2016 Big Four accountants PwC reported double-digit revenue growth for the second year running. And although it warned that the impact of the Brexit vote is “still being worked through” it was confident Britain was agile enough to deal with change. Revenues grew by 11 per cent to £3.4bn for the year to June 2016 – a rate [...]
Why we’re embracing radical transparency to tackle social, gender and ethnic inequalities at PwC September 12, 2016 There is little doubt that trust in business isn’t riding high. The feelings of distrust towards big business sparked by the 2008 financial crisis remain and, to some degree, have been reignited by the EU referendum vote. Recognising this, Theresa May pledged in her first speech as Prime Minister to make Britain a country that “works [...]
Is your greatest asset people, or data? October 4, 2017 Most of us spend our entire careers working for organisations where the prevailing attitude is that “people are our greatest asset”. In the service sector in particular, the expertise of an organisation’s people, their ability to work together, deliver an outstanding service and build strong relationships with customers is a cornerstone of its proposition. Often [...]
Virtual reality rocket: Sector set to swell with Brits owning 16m headsets within five years June 14, 2017 The UK virtual reality sector is set to grow at an annual rate of 76 per cent in coming years, making it the fastest growing UK entertainment and media market. A report by PwC released today estimated the entertainment and media sector will be a £72bn market in the UK by 2021. It is forecast [...]
PwC pays largest ever uncontested fine to Financial Reporting Council over Cattles audit sign-off August 31, 2016 The Financial Reporting Council (FRC) today fined PwC £2.3m in relation to the 2007 audit of failed sub-prime lender Cattles. The fines are the highest ever imposed by the FRC for an uncontested disciplinary hearing and only surpassed by the £3m of penalties accepted on appeal by Deloitte in connection with the failure of MG Rover. Total fines of £3.5m were reduced [...]
MPs want the investigation into PwC’s audit of BHS to be extended July 6, 2016 MPs inquiring into the demise of BHS want the investigation of PwC's audit of the company's accounts to be extended. The Financial Reporting Council's (FRC) investigation is looking into PwC's conduct in auditing BHS' accounts in the year ending August 2014, but Frank Field MP, chair of the Work and Pensions committee and Iain Wright MP, chair of the Business and [...]
Accounting giant PWC posts global revenue rise of $35.9bn October 4, 2016 Accounting and professional services giant PWC last night toasted $35.9bn (£27.9bn) in global revenues in its latest year to 30 June. The tally represents a 1.5 per cent increase on the same period last year and close to 7.5 per cent growth at constant exchange rates. However, that revenue growth has slowed from the 9.9 per [...]
Just received your GCSE results? No need to get A-Levels – get into the City with these apprenticeships at Lloyds, HSBC, PwC – and a new government department August 25, 2016 Those opening their GCSE results today will, for the most part, be planning to do A-Levels next year – particularly if they have ambitions in the City. But what if you could work for one of the UK's largest finance sector organisations without suffering through another two years of academia? We've rounded up the City's [...]
Accounting watchdog announces investigation into PwC over BHS audit June 27, 2016 The watchdog for the accountancy industry has today announced it will launch an investigation into PwC over BHS. The Financial Reporting Council (FRC) said it will take a closer look at the professional services firm's audit of the retailer for the year ended 30 August 2014. A PwC spokesperson said: "We will co-operate fully with the FRC in its [...]