Business leaders voice growing concern over government striking good Brexit deal October 1, 2018 Business leaders voiced growing concern in the government's ability to deliver a good Brexit deal today as a survey revealed confidence had dipped to its lowest level in over a year. Releasing its quarterly Brexit Monitor, consulting firm RSM said just 39 per cent of business leaders thought the government could strike a 'good deal' [...]
Restaurants and pubs will be the “future of the high street” in London December 16, 2018 Pubs and restaurants could be the “future of the high street” in London, according to industry experts, as new figures revealed a healthy growth in like-for-like sales throughout the sector last month. Sales grew by 2.3 per cent in London pubs and restaurants in November against the same month last year, statistics published by the [...]
Patisserie Valerie reveals balance sheet was significantly manipulated in ‘devastating’ fraud January 16, 2019 Patisserie Valerie posted a bombshell update to the market this afternoon, admitting that its balance sheet was “significantly” manipulated and thousands of false entries were made into the high street baker’s books before a shock £40m black hole was discovered last year. The troubled firm has appointed RSM as auditors and KPMG has been hired to [...]
Patisserie Valerie keeps shareholders in the dark on future as last ditch talks with banks continue January 21, 2019 Patisserie Valerie’s holding company has failed to shed further light on the future of the troubled bakery chain after announcing this morning talks were still ongoing with its creditors to save the company. The firm was expected to provide an update this morning, after speculation the last week of talks with its banks could spell [...]
Business losses from employee corporate fraud double on last year to nearly £90m August 28, 2018 Businesses lost nearly £90m from fraud carried out by their own employees this financial year, double the figure for the year before, new data reveals. The Home Office defines corporate employee fraud as when an employee is able to obtain property or greater remuneration through the act of fraud, as well as the misuse of corporate cards and expenses. [...]
Value of inward UK M&A deals falls by £15.8bn September 4, 2018 The value of mergers and acquisitions (M&A) of UK companies by foreign businesses fell by £15.8bn between April and June this year. The drop, from £22.3bn to £6.5bn, reflected the absence of high-value transactions that were seen in previous periods, the Office for National Statistics (ONS) said. Read more: Petrol station merger could drive up fuel prices, [...]
PwC offers muted support for audit market caps and increased oversight November 15, 2018 Britain’s biggest auditor has offered equivocal backing to a range of sector reforms, including a cap on market share for firms and more independent oversight of audit appointments. PricewaterhouseCoopers (PwC), the largest of Britain’s Big Four auditors, told the Competition and Markets Authority (CMA) a limit on the number of top firms any single auditor [...]
Audit’s perfect storm: How bean counters found themselves at the centre of a public uproar October 21, 2018 On the the surface, there is little reason for audit to get the blood pumping. The reality, however, is quite different, and threatens to present the sector’s biggest players – sprawling multi-nationals used to finding that all news is good news when you count the beans – with the toughest challenge they have seen in [...]
Power 100 Women July 30, 2019 About Power 100 Women If one thing was made clear by “heels-gate” – the fiasco caused last week after a young receptionist was sent home from her first day of work because she refused to don a pair of stilettos – it was that despite our best efforts, in some pockets of the City, old-fashioned [...]
PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]