Big Four auditors up advisory fee incomes as challengers capture larger share of audit work August 5, 2022 The UK’s challenger auditing firms are increasingly capturing a larger share of Britain’s audit market, as the Big Four increasingly generate their revenues through non audit work, new data from the UK’s accounting watchdog shows. The research shows smaller auditors upped their audit fee incomes at almost twice the rate of the Big Four, as [...]
‘Breathtaking’ HS2 failure slammed after whistleblowers allege cover-up October 22, 2023 The government is facing fresh political backlash over HS2’s “staggering failure” amid whistleblower accusations.
Ukraine war is dramatically dialling up risk of global recession April 5, 2022 The war in Ukraine has dramatically dialled up the risk of a global recession, according to leading economist. The conflict has thrown a ‘massive monkey wrench’ into what was a gradually improving post-pandemic picture, Ira Kalish, chief global economist at Deloitte told delegates at the World Retail Congress in Rome. And it could have damaging, [...]
Out-of-court settlement in Malaysia: KPMG coughs up $80m to end global 1MDB scandal January 13, 2022 KPMG has paid $80m to the Malaysian government, in the form of an out-of-court settlement, after Malaysia sued the Big Four firm over the 1MDB scandal, which saw billions stolen from Malaysia’s state-backed 1MDB investment fund. The 1Malaysia Development Berhad (1MDB) scandal saw at least $4.5 bn channelled out of Malaysia’s 1MDB investment fund, by [...]
London fintech punches above its weight, but it still needs to stay ahead of the curve April 17, 2023 As other cities continue to tempt away our London tech firms and other investment, we need to work even harder to stay competitive, writes Chris Hayward.
City Moves: Who’s switching jobs in the Square Mile? October 4, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. GPP Financial services provider GPP, part of Titan Wealth, has poached its new chief executive officer from American investment banking giant BNY Mellon’s Pershing business. Geoff Towers will be responsible for leading GPP as a core part of the [...]
Mazars UK business posts ‘record’ growth as firm pushes to tackle Big Four’s dominance February 16, 2023 Mazars today said its UK audit business grew 37 per cent over the previous year, as the accounting firm seeks to take on the Big Four and capture a larger share of the market. Mazars’ UK business posted “record” growth, despite rising costs, after its revenues increased by more than a fifth (23 per [...]
City Moves: Who’s switching jobs in the Square Mile this week? January 7, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Burford Capital Burford Capital has hired an arbitration expert and legal finance industry veteran as a new principal in its London office. Mick Smith, who co-founded Calunis Capital in 2006, will focus on global arbitration matters. The former JP [...]
Deloitte fined £1.8m and reprimanded over Comet administration failures January 30, 2020 Big Four accountancy firm Deloitte was today ordered to pay a fine and costs of £1.8m and “severely reprimanded” by regulators in connection with the administration of retailer Comet in 2012. Professional body the Institute of Chartered Accountants in England and Wales (ICAEW) said today that Deloitte failed to comply with its code of ethics [...]
Everything you were afraid to ask about the metaverse April 22, 2022 This article first appeared in ICAS’ CA Magazine. It recently hosted its first wedding, with a guest list of thousands. It may soon see CAs send digital avatars to clients’ virtual offices. But will the metaverse really reshape business or be just a niche preserve of gamers? Christian Koch investigates. The metaverse is coming… “Who [...]