Watchdog orders Big Four to separate auditing units by 2024 July 6, 2020 The Big Four accounting firms — PwC, Deloitte, KPMG and EY — must separate their audit units from the rest of their businesses by 2024, the audit watchdog said this morning. The Financial Reporting Council (FRC) is asking the companies to agree to operational separation by June 2024 to ensure their audits “do not rely [...]
Inspiration for all May 30, 2024 The Inspiring Partnerships programme from Inspiration for All is a unique senior leadership development programme with impact. The programme connects leaders in business with leaders in schools to advance social mobility through leadership. Research shows that great leaders add approximately two GCSE grades to every young person, therefore improving outcomes and access to opportunities. In business, leadership [...]
KPMG boss confident in Carillion audit despite partner suspension January 30, 2019 KPMG’s UK boss said the firm remains confident in the quality of its audit work for collapsed construction firm Carillion, despite suspending a partner over concerns related to falsified documents. Earlier this month, the Big Four audit confirmed it had suspended the top audit partner Carillion, Peter Menshan, along with three other non-partner members of [...]
Auditor independence rules prompt PwC to sell data software to private equity house November 16, 2020 Big four auditor PwC has sold its in-house data capture software to private equity house Souter Investments as auditor independent rules mean the firm cannot effectively grow the business. The software enables PwC to digitalise and search large volumes of complex legal derivative contracts for clients. It takes contracts from clients and converts them into [...]
Intu boss quits after landlord falls into administration July 3, 2020 The boss of Intu has stepped down a week after the UK’s biggest shopping centre owner went into administration having failed to agree a last minute deal with lenders. Administrator KPMG told staff that Matthew Roberts, who took over the top job last year after nine years as the firm’s finance chief, had quit, Sky [...]
Fintech firms to face increased scrutiny as regulators fear pace of change, KPMG warns March 3, 2019 Regulators are becoming increasingly concerned that the scale and pace of fintech development could harm consumers and threatened the financial system, according to a KPMG report. The report warned that regulators and risk experts were struggling to keep up with the pace of technological change and predicted a fresh wave of regulatory scrutiny in 2019. [...]
Coronavirus pressure drives down number of permanent jobs November 5, 2020 The number of permanent staff appointments fell in October as rising Covid-19 cases weighed heavily on recruitment plans, with jobs in retail, hotels and catering hit particularly hard. Greater uncertainty drove a marked rise in temporary placements, according to the latest KMPG and REC report on jobs, and overall demand for staff fell. Widespread reports [...]
Gold miner Petropavlovsk appoints new chief exec November 30, 2020 Russian gold miner Petropavlovsk has today appointed Denis Alexandrov as its new chief executive, months after clearing out its former top team. Alexandrov, who will join the firm on 1 December, will take over from Maxim Meshcheryakov, who has been the FTSE 250 firm’s acting chief exec since August. From January 2016 to this year, [...]
City Moves: Who is switching jobs in the Square Mile this week? March 10, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. New strategy director joins Wates Construction Wates Construction Group has appointed a new strategy and integration director for its recently formed group of businesses Wates Integrated Construction Services (WICS). Joining the London office, [...]
Watchdog investigation into KPMG’s Carillion audit at ‘critical stage’ January 22, 2019 The UK’s audit watchdog said its investigation into KPMG’s audit work for collapsed construction giant Carillion is at a “critical stage”. The Financial Reporting Council (FRC) issued an update this morning on its probe into the Big Four firm following “significant public interest” in the case. Carillion’s collapse in January last year has become a [...]