EY handed fine for botched Stagecoach audit August 25, 2021 The Financial Reporting Council (FRC) has landed EY and its Audit Engagement Partner, Mark Harvey with £2.3m in fines. The FRC said that an EY audit of StageCoach, an international travel company, “did not satisfy the audit reporting requirements” for the 2016-2017 financial year. Claudia Mortimore, the Deputy Executive Counsel to the FRC said: “the [...]
UK high streets to ‘lose up to 40 per cent of stores’ due to pandemic January 14, 2021 Up to 40 per cent of high street shops could be forced to close due to the impact of the shift to remote-working and online shopping, the latest analysis showed, in the latest blow to the struggling UK retail sector. A report published this morning by professional services giant KPMG said UK high streets could [...]
Unexpected economic reversal indicates UK is ‘perilously close to a recession’ June 13, 2022 An unexpected reversal in the UK economy indicates the country is “perilously close to a recession,” according to City economists. Gross domestic product (GDP) in the UK fell 0.3 per cent in April, marking the second month in a row the economy has shrunk, according to figures published today by the Office for National Statistics [...]
AIM ESG Performance: Social Mobility in Financial Services May 22, 2023 Addidat has collaborated with Nurole on its AIM ESG series, providing information about AIM companies’ ESG requirements and performance, along with practical suggestions about what firms can do to improve. This article focuses on key aspects of the social performance of companies operating in the Financial Services sector, in terms of their progress on social [...]
In an age of Netflix, Britain’s public broadcasters must step up to the challenge January 13, 2022 The BBC has become a lightning rod for debate over the role of public service broadcasting and its role in our society. As the broadcaster prepares for its mid-term charter review and Channel 4 faces down the challenge of privatisation, we must re-evaluate how we look at the notion of maximum possible benefit to the [...]
UK unemployment rate falls amid August hiring spree September 14, 2021 The UK unemployment rate fell 0.3 per cent in the last quarter as businesses continued on a hiring spree to keep pace with the economic recovery from the pandemic. According to the Office of National Statistics, the unemployment rate now stands at 4.6 per cent, in line with economists’ forecasts. The fall was powered by [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
Private equity deal activity bounces back in second half of 2020 February 1, 2021 Private equity activity in the UK bounced back in the second half of 2020, but the spring’s lockdown meant that the total number of deals fell to the lowest level in seven years. According to Big Four auditor KPMG, 889 deals were completed last year, with a total value of £87.2m. The figure is the [...]
PwC sued by racing car dealer for failing to spot alleged fraud July 27, 2021 PwC has been sued by the administrators of JD Classics, a racing car dealership, for allegedly failing to to spot fraud resulting in losses of over £41m. The UK’s biggest accounting firm was accused by administrators from Alvarez & Marsal of being negligent in their handling of accounts between 2016 and 2017 according to the [...]
City Moves: Who’s switching jobs in the Square Mile today? October 13, 2021 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. Riverstone Property developer Rivertsone has hired a new Chief Experience Officer who will help ensure a smooth experience for its over 65s residents in Kensington and Fulham. Greg Mace joins as the firm readies itself for new developments, [...]