Accounting watchdog floats strengthening auditors’ obligation to spot fraud October 21, 2020 The UK’s accounting regulator has proposed increasing the requirements on auditors to detect fraud in company accounts following a spate of high-profile accounting scandals. The Financial Reporting Council (FRC) has launched a review into the international accounting standard outlining auditors’ responsibilities to identify fraud. The watchdog is proposing revisions to the standard to provide “increased [...]
It’s time for business leaders to be educated about dyslexia May 4, 2021 Emily Cheyne CA, Manager, Transaction Services at KPMG, discusses having dyslexia, comparing herself to others and how it’s time to stop thinking that one way of working is appropriate for everyone. When were you diagnosed with dyslexia? I was in Primary 5 at school – so 10 years old. The reason I was tested was [...]
More than 1,000 Deloitte consultants working on Test and Trace programme October 8, 2020 More than a thousand Deloitte consultants are reportedly working on the NHS Test and Trace programme, further highlighting the government’s reliance on the private sector through the pandemic. Department of Health documents released under a Freedom of Information request by Sky News reveal there are currently 1,114 consultants working on the scheme, equivalent to the [...]
Retail sales suffer worst year on record as lockdowns bite January 12, 2021 UK retail sales suffered their worst year on record in 2020 as Covid-19 lockdown measures decimated customer numbers. In-store sales of non-food items — which includes all non-essential retailers — dropped by almost a quarter last year compared to 2019. For 2020 overall, total sales declined 0.3 per cent on the previous year, marking the [...]
Intu falls into administration after lender talks fall through June 26, 2020 Retail landlord Intu has fallen into administration after lenders failed to agree to last-minute relief on the company’s debt obligations today. Intu’s failure to raise new capital means KPMG will now step in to handle its administration. Adminstrators James Tucker, Michael Pink and David PIke will lead the process. Intu’s shares have now been suspended [...]
Dyson to cut 900 jobs globally due to virus impact July 23, 2020 Vacuum cleaner firm Dyson said it will cut 900 jobs from its global workforce, as the coronavirus pandemic impacts consumer demand for its products. Approximately 4,000 of Dyson’s 14,000 staff are based in the UK. “These proposals would regrettably result in around 600 redundancies in the UK and 300 in the rest of the world,” [...]
City Moves for 31 March – Who’s switching jobs at Quantuma, Medica and FRP? March 31, 2020 Today’s City Moves includes Quantuma, Medica and FRP Quantuma Business advisory firm Quantuma has announced the appointment of Philippa Robinson as a director in its corporate finance team. Philippa joins Quantuma after qualifying with KPMG to become a fellow of the Institute of Chartered Accountants in England and Wales. In her role at KPMG, she [...]
Eddie Stobart drives logistics group GWSA back to profitability October 12, 2020 The holding group behind logistics firm Eddie Stobart today said it had swung back to profitability in the first half of the year as it cashed in on higher demand for transport services during the Covid-19 crisis. Green White Start Acquisitions (GWSA), which also controls iForce, The Pallet Network and The Logistics People, reported revenue [...]
UK businesses plan to cut jobs and investment, survey shows October 8, 2020 UK businesses expect to cut staff levels and investment over the next year, according to a new survey, with the outlook “stuck in the doldrums”. The Institute of Directors’ (IoD) survey showed that bosses’ optimism about the economy plateaued in September, having risen since the coronavirus-induced lockdowns of the spring. The UK economy shrunk by [...]
UK factories grow at fastest pace in six years but continue to slash jobs September 1, 2020 The UK manufacturing sector’s output grew at the fastest pace in more than six years in August as factories continued to recover from the coronavirus lockdown, a survey has shown. However, the sector was far from its pre-coronavirus size and firms laid off workers at a rapid rate as they adapted to the new economic [...]