The UK’s financial services sector paid more than £66bn in taxes last year – PwC and City of London Corporation December 4, 2015 New figures out today show that the financial services sector contributed more than £66bn in taxes last year, amounting to 11 per cent of total government tax receipts. A new report from the City of London Corporation and PwC, based on a survey of 48 of the Square Mile’s largest firms, reveals that the financial [...]
Challenger bank Virgin Money replaces KPMG with PwC as auditors for 2016 October 25, 2015 Virgin Money announced on Friday that it is appointing PwC as auditor, provided shareholders approve of the move at the 2016 annual meeting. The appointment of PwC will replace the Virgin Money’s current auditors, KPMG, who have audited the bank since 2004. In Virgin Money’s notification of change of auditors, Norman McLuskie, chairman of Virgin [...]
PwC to be investigated over audit of collapsed company Connaught October 12, 2015 * caption could read: Connaught's property management arm, which maintained social housing, went into administration The Financial Reporting Council (FRC) has decided to act on complaints against PwC and its senior statutory auditor Stephen Harrison over Connaught's auditing. Connaught is the social housing maintenance firm that went into administration in September 2010 and it is “alleged that [...]
PwC to be investigated over audit of collapsed company Connaught October 12, 2015 The Financial Reporting Council (FRC) has decided to act on complaints against accountancy giant PwC and its senior statutory auditor Stephen Harrison over the auditing of social housing maintenance firm Connaught. Connaught went into administration in September 2010. The FRC's report accuses the company and the account's lead audit partner Stephen Harrison, who retired in summer 2010, of "fail[ing] to [...]
Union leaders are their own worst enemy December 19, 2016 As the country prepares to power down for Christmas, a number of trades unions are flexing their muscles and powering up their strike activity. As PWC’s Tom Kerr Williams notes, for unionised labour “a good time to react is at Christmas when most employers will be under pressure to keep customers happy”. One can't deny the [...]
Luxleaks whistleblowers handed suspended sentence June 29, 2016 Two ex-PwC employees have been found guilty on charges relating to their involvement in a leak of their firm's data, and handed suspended sentences. Antoine Deltour was given a suspended sentence of 12 months and a fine of €1,500 (£1,241), while Raphael Halet was handed a nine-month suspended sentence and a fine of €1,000 for their role in the so-called Luxleaks data leak. [...]
Powa founder Dan Wagner paid £50,000 to another company before administrators were called in on fintech unicorn November 20, 2016 The former owner of collapsed fintech start-up Powa Technologies paid £50,000 to a company he owned in January this year, shortly before administrators were called in to break up the company. Dan Wagner, the charismatic founder of the London-based firm, paid the money to Bright Station Ventures in January of this year, as was first reported [...]
Eight years after the collapse of Lehman Brothers, FutureBrand’s Tom Adams says that perceptions of banks’ brands are improving September 19, 2016 Eight years after the collapse of Lehman Brothers, FutureBrand’s global head of strategy Tom Adams reflects on how the public perceives financial services organisations. In 2014, when his global brand consultancy first began polling professionals in 17 countries to see how they perceived the firms in PwC’s list of global top 100 companies by market capitalisation, [...]
PwC says new programme will help mothers going back to work October 20, 2015 A leading professional services firm is today launching a new programme to help people get back on the career ladder after an extended break. PwC’s “Back to Business” programme is aimed at mothers who took time out, but the firm says the 12-week course is open to men and women of all experience levels. PwC [...]
Passporting for financial hubs works both ways, watchdog numbers show September 20, 2016 Thousands of UK financial firms are currently facing uncertainty over access to the Single Market, but figures out today have underscored that passporting is a two-way street. Of the 13,484 firms using passporting which were accounted for in a letter from new Financial Conduct Authority chief executive Andrew Bailey to the Treasury Select Committee, 8,008 are using inbound passports, [...]