Accounting watchdog FRC launches probe into French Connection audit by Mazars October 6, 2021 The accounting watchdog said this morning it has launched an investigation into retailer French Connection’s audit by Mazars. The Financial Reporting Council (FRC) said it was probing the chain’s accounts for the year ending January 31 of last year. It said the decision to investigate the audit was made at a meeting of its conduct [...]
The Impact of Covid-19 on Board Accountability, Flexible Work, Stakeholder Engagement, and Financial Markets October 5, 2021 | City Talk The podcast series A Guide to EU Financial Politics and Policy Development continues to bring listeners valuable insight and perspectives on the European Union regulatory sphere. This summer, we added four new episodes focusing on the impact of the pandemic on board accountability, work environments, stakeholder engagement, and financial markets. The podcast is hosted by Josina Kamerling, [...]
The case that shook London’s gay community: Stephen Port inquest starting today October 5, 2021 Over the next ten weeks, a jury will hear details of how four young London gay man met their deaths at the hands of serial killer Stephen Port between the summer of 2014 and September 2015. The hearings, which were postponed due to the pandemic, are being held at Barking Town Hall, just yards from [...]
Police to be given greater powers today as Insulate Britain has ‘crossed the line’ October 5, 2021 Crime and Policing minister Kit Malthouse said this morning that Insulate Britain protesters have “crossed the line between exercising their right” and their responsibility to the public, and further measures to combat their tactics will be announced on later today. Speaking about footage of a paramedic dragging some of the protesters out of a London [...]
UK urged to crack down on ‘dirty money’ as Pandora Papers expose London’s murky role October 4, 2021 There are fresh calls today to tighten Britain’s defences against “dirty money” after a leak of offshore data exposed the secret financial dealings of some of the world’s richest and most powerful people. The cache of almost 12m files – dubbed the Pandora Papers – is said to cover the activities of some 35 current [...]
Watchdog mulls investigation for EY and Deloitte over Southeastern audits October 3, 2021 The accountancy watchdog is debating whether to launch a probe into the auditors of the Southeastern train line after the company last week admitted to hiding £25m owed to the state. The Financial Reporting Council is looking into whether audit giants EY and Deloitte have a case to answer, sources told the Sunday Telegraph. Last [...]
UK’s outdated drug laws are outright racist, says former govt adviser September 30, 2021 A former government adviser said this morning that the UK’s drug laws are racist and disproportionately harm black communities. Lord Simon Woolley said drugs legislation introduced 50 years ago has failed to reduce the use, supply and harms associated with illegal drugs and continues to be used “as a tool of systemic racism”. Lord Woolley, [...]
Over two thirds of lawyers have battled with mental health problems September 28, 2021 More than two thirds of lawyers in the UK have suffered from mental ill-health, and the majority are at a high risk of burnout, a new report by a lawyer wellbeing charity has found. The report by LawCare, published today, contained the results of a detailed survey of over 1,700 legal professionals across the UK, [...]
‘Bat from Wuhan’: PwC chief apologises for ‘racist and offensive’ staff event September 28, 2021 The chief executive of PwC Australia has issued an apology for “racist and offensive” behaviour by two human resource staff members during a trivia event hosted by the Big Four company. The virtual game of trivia in which one PwC HR executive allegedly dressed as a “bat from Wuhan”, while another mocked Chinese accents, took [...]
‘Severe reprimand’ for Patisserie Valerie audit: Grant Thornton failed and was incompetent, says watchdog September 27, 2021 Red flags were missed while auditing the collapsed cake chain Patisserie Valerie, and auditors failed to question management properly. Overall, it showed a serious lack of competence, according to regulators this morning. The Financial Reporting Council (FRC) made its findings against accounting giant Grant Thornton and auditor David Newstead, handing them fines of £2.3m and [...]