AUDITOR VIEWS: WHAT IS YOUR REACTION TO THE JOINT FSA AND FRC REPORT ON THE ROLE OF THE AUDITOR? June 30, 2010 GRAHAM CLAYWORTH | BDO We welcome the healthy contribution to the debate. What does need to happen is for auditors, regulators, corporates and investment bodies to sit down and say ‘how do we go forward?’ and this is why I think this report is helpful. RICHARD SEXTON | PRICEWATERHOUSECOOPERS The audit is critical to the [...]
Accountants told to step up audit quality July 20, 2010 BRITAIN’S big four accountants were criticised by an independent review this morning for the “disappointing” quality of their audit work. One in ten audits produced by the major firms fell below the proper standards, the Audit Inspection Unit (AIU) said. Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers – along with smaller competitor PKF – were [...]
Job hires up but outlook is less rosy June 8, 2010 LABOUR market conditions continued to improve in May but growth in the number of permanent hires fell for the second consecutive month, the KPMG/REC?Report on Jobs will show today. The survey said that higher staff appointments were underpinned by a further improvement in demand for staff during May. Recruitment consultancies indicated that growth of vacancies [...]
Brief sunny spell for retailers July 12, 2010 SUNNY weather and summer clearance sales gave retail sales a much-needed boost last month, the British Retail Consortium (BRC) will say today in its monthly survey. Retail sales values rose 1.2 per cent on a like-for-like basis on June 2009 while total retail sales values were up 3.4 per cent. However, in the three months [...]
London is in danger of losing its status as top business base June 30, 2010 LONDON is in danger of losing its standing as the premier place to do business, according to an influential survey published today. While four fifths of chief executives continue to rate the capital as a good or very good place to do business, this has fallen by six per cent in the past six months, [...]
London is in danger of losing its status as top business base June 30, 2010 LONDON is in danger of losing its standing as the premier place to do business, according to an influential survey published today. While four fifths of chief executives continue to rate the capital as a good or very good place to do business, this has fallen by six per cent in the past six months, [...]
Accountants back report by regulators June 30, 2010 ACCOUNTANTS say they are willing to consider whether the current audit model needs to evolve to meet changing market needs, following a recent report by the Financial Services Authority (FSA) saying that the profession had not been sceptical enough about the financial firms it audited in the run up to the banking crisis. The City [...]
The accountant who sees EU rules as a chance to transform his firm October 18, 2010 For a man less than three months away from retirement, BDO’s policy board chairman – in effect, the firm’s international chairman – can’t wait to get into the issues. And to be fair, there is much for Dermot Mathias, who joined the accountancy giant 37 years ago, to discuss. What excites him most is the [...]
Retailers warn tax hike threatens sales recovery June 22, 2010 RETAILERS yesterday warned the rise in VAT would dent a recovery on the High Street, but won an important concession by convincing the Treasury to delay its introduction until 4 January. Treasury sources said the chancellor had taken into account the “hoo hah” experienced by the industry when the last change in VAT was enacted almost [...]
Capital spend avoids the axe June 22, 2010 THE CONSTRUCTION and transport sectors were relieved by yesterday’s news that the government will not hack into capital spending Chancellor George Osborne said careful choices would have to be made on what the government will spend on infrastructure. Delivering the emergency Budget, Osborne said: “Well judged capital spending by the government can help provide the [...]