KPMG Australia boss resigns amid whistleblower scandal May 29, 2026 The boss of KPMG Australia has resigned after the firm admitted to severely mishandling a whistleblower report on client confidentiality breaches. The scandal was prompted by a whistleblower who alleged that client documents were inappropriately shared with the senior leadership team, including the chief executive, which prompted an internal investigation. But the investigation did not [...]
Private equity boom slows down as the deal bar rises for City firms May 29, 2026 Private equity interest in professional services remains, but the era of easy deals is over as most attractive targets have already been acquired, and investors are now more selective, writes Maria Ward-Brennan. The bubble around private equity interest in the professional services industry has started to deflate, as most of the “low-hanging fruit” has already [...]
Watchdog slaps BDO with £2m fine over serious audit failings May 28, 2026 Accountancy giant BDO and the former head of its London audit group have been slapped with sanctions by the accounting industry watchdog over its work on the construction engineering firm NMCN. The Financial Reporting Council (FRC) imposed sanctions on the firm and its former partner, Geraint Jones, for significant and serious breaches during the 2019 [...]
Accountants ‘still in high demand’ despite AI impacting sector May 22, 2026 Accountants in the UK are still in high demand despite the impact of AI on the sector, according to new research from the Institute of Chartered Accountants (ICAEW). The body, which regulates and supervises around 12,000 accountancy and audit firms in the country, said that accountants “are still in high demand” even as AI reshapes [...]
BDO picks US audit leader for senior partner role May 20, 2026 Mid-tier advisory firm BDO’s equity partners have voted to name Iain Henderson as the firm’s next senior partner. Henderson will take office on 1 October 2026, succeeding Matthew White, who will have completed his maximum of two four-year terms in the senior leadership role. Unlike the role of managing partner, the senior partner oversees the [...]
Job cuts at Big Four firms fuel worker burnout May 20, 2026 Job cuts at professional services firms are resulting in overworked staff, but the pressures – combined with increased reliance on AI – risk damaging firms’ reputations through mistakes, writes Maria Ward-Brennan. The professional services industry, especially the Big Four giants, has faced its fair share of job cuts, with thousands of roles laid off in [...]
UK businesses stall investments and cut headcount due to Iran war May 18, 2026 Over half of UK firms said they have halted investment and hiring plans due to the economic fallout of the Iran war, contributing to supply chain pressures and higher energy and fuel costs. According to new research from accountancy and advisory firm BDO, 57 per cent of 500 businesses with revenues between £10m and £500mn, [...]
EY coughs up over £100m to settle NMC Health court conflict May 18, 2026 Big Four giant EY is understood to have paid over £100m to settle a High Court claim brought by former FTSE 100 company NMC Health that collapsed during a fraud scandal. Both EY and the healthcare provider reached a confidential agreement in February to settle the claims, which were brought four years ago against EY for [...]
Record £4bn revenue for accountancy firms ‘may reinforce’ hawkish rate outlook May 14, 2026 The UK’s accounting sector hit a record high for monthly revenue according to data from the Office for National Statistics out on Thursday, though gains may be short-lived due to the impact of the uncertainty sparked by the Iran conflict. In March, the industry’s revenue spiked by nearly ten per cent to £4.3bn compared to [...]
Revealed: The 2026 City AM Awards Winners May 7, 2026 Around 500 guests enjoyed a night of celebration at London’s Guildhall on Wednesday 6 May where the winners of the 2026 City AM Awards were crowned. From 60 finalists across 12 categories, the judges chose their champions. Personality of the Year Greg Jackson CBE The entrepreneur and CEO of Octopus Energy has become one of [...]