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 [...]
Forvis Mazars UK CEO: We have what others are trying to buy May 6, 2026 Forvis Mazars UK boss tells Maria Ward-Brennan that the firm’s integrated, global structure is what competitors are now trying to acquire through mergers and investments Forvis Mazars has built an integrated firm from the ground up, something others are now trying to purchase, says its UK chief executive, who added that building integration from scratch [...]
KPMG faces staff uproar as job cuts expose communication breakdown May 6, 2026 Big Four audit firm KPMG is facing something of an internal comms meltdown, City AM understands, amid complaints of a lack of communication during a ‘mismanaged’ redundancy round. In late March, it was reported that KPMG UK was set to axe more than 500 staff in the latest redundancy round at the Big Four giant. [...]
Grant Thornton snaps up Australian sister firm as part of global push April 29, 2026 Professional services giant Grant Thornton US is set to acquire the firm’s Australian counterpart to become part of its global advisory platform, boosting the private equity-backed player’s global reach. Grant Thornton US said the transaction was “recommended by the board and would close later this year, subject to shareholder partner approval and standard regulatory conditions.” [...]
Private equity investment fuels major overhaul of Grant Thornton’s associate scheme April 29, 2026 Professional services giant Grant Thornton is launching a “brand new associate programme” for its 2027 cohort of associates, City AM can reveal, as private equity investment from Cinven sets the firm’s ambition for significant growth. The firm voted in favour of an investment from private equity firm Cinven in 2024. Speaking to City AM, Abigail [...]
Golden partnership perks? Not anymore, say the Big Four April 27, 2026 As the Big Four giants grapple with profitability challenges, the traditional partnership model is undergoing significant change to prevent the profit pool from being diluted. The traditional dream at professional services firms – joining, working hard and climbing the ladder to partnership within an LLP structure – now looks very different at the Big Four [...]
Regulator fines PwC £95m over Chinese Evergrande audit April 23, 2026 The Hong Kong regulator fined PwC Hong Kong a landmark HK$1bn (£95m) for its role as auditor for the now-liquidated property giant, China Evergrande Group. Back in Janaury 2023, PwC resigned as Evergrande’s auditor following a series of disagreements with the heavily-indebted property developer over its audit of the firm’s 2021 accounts. This came after [...]
As private equity booms, law firm partner moves hit record high April 21, 2026 Partner moves in London’s private equity market are hitting a new high, according to a report that revealed last year’s numbers doubled those of 2024, marking a record for the City’s legal sector. New data from legal search boutique Macrae shows there were 50 movements of partners with practices in the private equity sector in [...]
PwC consulting overhaul reveals AI reckoning for the Big Four April 16, 2026 The influx of AI is putting the Big Four’s structures under strain, and cracks are beginning to appear in their consultancy divisions, argues senior reporter Maria Ward-Brennan. The industry is facing a storm of problems, including over-recruitment during the pandemic, low staff attrition rates due to economic issues, and a drop in fees as the [...]