KPMG to sell restructuring arm to win more work November 9, 2020 Audit giant KPMG is to sell its restructuring arm because conflicts of interest and regulatory scrutiny are preventing it from winning work. In an email to colleagues KPMG UK chairman and senior partner Bill Michael said that concerns relating to conflicts of interest arising from its existing work was likely to “limit the restructuring clients [...]
More than 800 jobs at risk as Victoria’s Secret UK arm enters administration June 5, 2020 The UK business of lingerie retailer Victoria’s Secret has fallen into administration, putting more than 800 jobs at risk. All of Victoria’s Secret’s 25 UK stores are currently closed due to the coronavirus lockdown, with 785 employees on furlough. Deloitte, which was appointed as administrator today, said no redundancies have been made while it searches [...]
Online publishers curb revenue decline as pandemic drives up subscriptions November 17, 2020 Online publishers suffered a less steep decline in revenue than feared at the height of the coronavirus lockdown, as surging demand for news drove up subscriber numbers. Digital publishing revenue fell 14.3 per cent year on year to £96.6m in the second quarter — a smaller drop than anticipated. The fall was driven by lower [...]
Coronavirus: Oasis and Warehouse on the brink of collapse April 14, 2020 High street retailers Oasis and Warehouse are reportedly on the brink of collapsing into administration, putting more than 2,000 jobs at risk. The fashion chains are set to appoint Deloitte as administrator as soon as this afternoon or tomorrow, Sky News reported, making them the latest casualty of the coronavirus crisis. The Oasis and Warehouse [...]
KPMG and Deloitte under investigation for role in 1MDB corruption scandal January 26, 2019 International auditors KPMG and Deloitte are being investigated in Malaysia for their role in the 1MDB corruption scandal. Malaysian authorities said today they are looking into the state fund’s auditors, without identifying the firms. Read more: Goldman Sachs chief executive apologises to Malaysian people over 1MDB scandal “The Securities Commission’s review of the conduct of auditors [...]
City Moves for 5 March 2019 – Who’s switching jobs at Co-op, Deloitte and Hunters? March 5, 2019 Today's City Moves cover the Co-op Group, Deloitte and Hunters. Take a look at these movers and shakers. Co-op Group Central England Co-op has welcomed its new chief executive Debbie Robinson on her first day with the society. Debbie was appointed in November last year and will oversee one of the largest independent retail co-operative [...]
Tottenham overtake Juventus and close in on Arsenal in Deloitte Football Money League January 23, 2019 Tottenham’s emergence as one of Europe’s growing powers is paying dividends off the field, with the club now placed among the top 10 richest football clubs in the world. Spurs overtook Italian giants Juventus to take 10th place in Deloitte’s Football Money League 2019, as revenue leapt to €428.3m (£379.4m) last season from €359.5m in [...]
Is Liverpool’s defeat by Manchester City a sign that history is repeating itself for Jurgen Klopp February 13, 2021 To paraphrase Liverpool owner John Henry, what do you think they’re smoking at Anfield? Because something is up with the champions. Losing to your main domestic rivals is one thing. Losing to them 4-1 at home is another. And losing to them when you are 27 points down on your tally at the same stage [...]
Lookers delays financial results further and warns of share suspension June 8, 2020 Car dealership firm Lookers has delayed publishing its financial results for the third time and has warned it may have to suspend trading. Lookers had been scheduled to report its 2019 financial results in March but had to delay publication until April after it had “identified potentially fraudulent transactions” and hired Grant Thornton to review [...]
UK watchdog to accuse KPMG of breaches in Carillion audit September 21, 2020 The UK’s accountancy watchdog has said it has delivered an initial report of KPMG’s audit of collapsed outsourcer Carillion, indicating it found a number of breaches made by the firm. After a preliminary investigation, the Financial Reporting Council would either close the enforcement case or, if breaches have been found, deliver an initial investigation report. [...]