A decentralised world brings economic efficiency, economic proficiency, stability, and peace of mind – Part 2 March 16, 2023 In part two of Dr Chris Kacher's overview of what a decentralised world holds, he examines the power of what a DAO can do.
Brexit: ECB demands UK banks to move City staff to Europe despite Covid November 18, 2020 The European Central Bank (ECB) has said in no uncertain terms that it expects UK-based lenders to move staff and assets to the Eurozone if they want to keep serving the bloc’s clients after the Brexit transition period. The Bank, which regulates the Eurozone financial system, told banks they could not use coronavirus as an [...]
IRSG sets out financial services priorities for UK’s G7 presidency to aid post-pandemic recovery June 3, 2021 G7 leaders are being urged to ensure the economic recovery from COVID is green, sustainable and equitable in a new report by the International Regulatory Strategy Group (IRSG), which is co-sponsored by the City of London Corporation and TheCityUK. Financial Services Priorities for the UK’s G7 Presidency calls on G7 finance ministers meetings in London from [...]
Sarbanes-Oxley-style audit reform ‘to cost business more than £430m a year’ March 18, 2021 Businesses face paying hundreds of millions of pounds more every year under plans to reform the audit sector and crack down on shoddy practices at the UK’s largest firms. More than £430m could be added to businesses costs as a result of the proposals, according to analyses carried out by the Financial Times. This morning [...]
Public debt: Who has lent a staggering £2.1 trillion to Rishi Sunak? April 23, 2021 Government debt has hit its highest point as a portion of gross domestic product since the early 1960s when the country was still paying off what it had borrowed to fund the fight against Nazi Germany, new figures showed this morning. Last year spending skyrocketed to pay for dozens of programmes to prop up the [...]
High profile retailer failures will ‘once again shine spotlight on auditors’ December 3, 2020 A possible avalanche of corporate failures could once again shine the spotlight on auditors, according to Menzies partner James Hadfield. The partner said he could foresee more failures coming, and believed it likely auditors would become a talking point in the process. The high street is having a particularly tough time at the moment, with [...]
How worker shortages are cleared will determine UK economy’s trajectory September 4, 2021 You would be forgiven for forgetting we are currently amid one of the best runs of economic growth in living memory with all the negative news about supply chain snarl ups, worker shortages and soaring inflation flying around. A slew of data published this week, alongside a raft of announcements from supermarket, retail and food [...]
Big Four continue to dominate FTSE 100 despite growing pressure March 2, 2020 The dominance of the Big Four serving the FTSE 100 continued in the first quarter despite growing regulatory pressure. The Big Four were the only auditing firms to serve the FTSE 100 last quarter with PwC retaining the top spot with 27 clients, closely followed by KPMG’s 26. Deloitte and EY served 25 and 22 [...]
Deloitte fined for pension scheme audit failures November 6, 2020 Big Four firm Deloitte has been fined £362,500 for failures relating to the audit of a former client’s defined benefit (DB) pension scheme and the carrying value of the company’s intangible assets. The Financial Reporting Council (FRC) described the former client as one of the largest local and regional multimedia organisations in the UK responsible [...]
Germany to shake up accounting industry following Wirecard collapse June 28, 2020 Germany is set to overhaul its accounting industry as part of measures to soften the fallout from the collapse of payments fintech Wirecard last week. Wirecard, which premiered on Germany’s main Dax index with a €24bn (£21.8bn) valuation just two years ago, filed for insolvency last week after auditors found a €1.9bn black hole in [...]