Big Four accountants warned by regulator to improve audits November 16, 2021 The head of the UK accounting watchdog has told the Big Four audit firms they need to run their own businesses better, before advising other companies, according to reports. Sir Jon Thompson, chief executive of the Financial Reporting Council (FRC) made his remarks ahead of the regulator’s launch today of its first guide for accountants [...]
Big Four and challengers ask for leeway on difficult audits to avoid public criticism April 27, 2021 The Big Four and the challenger audit firms have asked the accountancy watchdog for more leniency when it comes to more difficult audit jobs, for fear of public criticism if they make a mistake. Audit firms have asked the Financial Reporting Council (FRC) to pause quality inspections of their work for a year if they [...]
End of lockdown: Most UK shoppers feel safe about returning to the high street on 12 April April 8, 2021 Most consumers feel safe returning to the high street, the latest research has shown ahead of non-essential retailers reopening on 12 April. According to a survey by Deloitte, 56 per cent of shoppers will feel safe about coronavirus risks when heading out to the high street next week, a 16 percentage point increase compared to [...]
Exclusive: Finance professionals want more flexible working week post-Covid April 6, 2021 People working in financial services want to see changes to their working week post-Covid, like flexible hours or choosing where to work from. More than half (54%) of financial services employees want their organisation to offer alternative working patterns such as flexible hours or the option of remote working, according to new research from Deloitte. [...]
Norwegian watchdog mulls blocking Rolls-Royce sale of Bergen Engines March 9, 2021 Norway’s NSM security watchdog may prevent the agreed $178m sale of Rolls-Royce’s unit Bergen Engines unit to a Russian entity. According to a Reuters report this morning, citing a Norwegian ministry of justice statement from today, the Russian buyer is controlled by TMH Group.
Carlyle seeks to raise up to $27bn in largest ever private equity fund July 23, 2021 Global investment firm The Carlyle Group is looking to raise as much as $27bn in what would represent the industry’s biggest ever buyout fund. Carlyle is in discussions with investors about the size of the fund, according to Bloomberg reports citing insiders, which could see the total change. If the buyout group achieves its target [...]
Missguided seeks rescue plan as supply chain chaos strains finances October 24, 2021 Missguided’s multimillionaire owner is scrambling to save the fast fashion brand from supply chain pressures. The online retailer has been hit by a perfect storm of price rises and delivery disruption. Missguided founder Nitin Passi is thought to be in talks with City crisis experts from AlixPartners to look at dramatic restructuring options, according to [...]
Juventus turn to share issue in bid to plug €400m hole caused by Covid and collapse of European Super League project July 1, 2021 Juventus hope to raise €400m via a share issue to compensate for heavy losses during the pandemic and the stalling of plans for a European Super League. The Turin football club, current home to superstar Cristiano Ronaldo, said it expected losses for the 2019-2022 period to reach €320m. Juventus were one of the driving forces [...]
Big Four lobbying may dilute Government’s audit reform, says ex-accounting watchdog June 14, 2021 Big Four lobbying will dilute Government's audit reform, says ex-accounting watchdog
Less time but same pay for thousands of Brits as they move to four day work week on new 100:80:100 model June 6, 2022 The world’s largest trial of a four-day work week begins today in the UK and will continue for six months. The pilot is being trailed by 3,300 workers across 70 UK companies, and is based on the 100:80:100 model – 100 per cent of the pay for 80 per cent of the time, in exchange [...]