KPMG to sell restructuring arm to win more work November 9, 2020 Audit giant KPMG is to sell its restructuring arm because conflicts of interest and regulatory scrutiny are preventing it from winning work. In an email to colleagues KPMG UK chairman and senior partner Bill Michael said that concerns relating to conflicts of interest arising from its existing work was likely to “limit the restructuring clients [...]
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 [...]
PwC buys mindfulness app for all staff amid coronavirus crisis November 6, 2020 Audit giant PwC has bought a 12 month subscription to a mindfulness app for all 22,000 staff across the UK business. City AM understands the chosen app is ‘Headspace’, a mobile app that aims to help users feel less stressed through a combination of meditation, mindfulness and better sleep. In a note to all partners [...]
Deloitte Legal acquires London tech and digital media law firm November 3, 2020 Deloitte Legal will acquire technology and digital media law firm Kemp Little, adding 29 partners and up to 57 lawyers in the process.
PwC to take over from KPMG as M&G’s external auditor November 2, 2020 PwC is set to take over from KPMG as M&G's external auditor.
Ex-Linklaters chairman returns to Monckton Chambers November 2, 2020 Ex-chairman of 'Magic Circle' firm Linklaters Sir Christopher Bellamy QC has returned to Monckton Chambers.
Johnny Depp lawyers vow to appeal ‘perverse and bewildering’ libel verdict November 2, 2020 Lawyers for Johnny Depp have vowed to appeal a “perverse” ruling after the actor lost his libel case against the Sun newspaper over an article that branded him a “wifebeater”. A judge today ruled in favour of the Sun after a dramatic courtroom showdown that revealed the intimate details of his relationship with ex-wife Amber [...]
Tough on dirty money? The UK has a way to go October 28, 2020 In 2016, the National Crime Agency estimated that £90bn is laundered via London each year. The UK government’s response was swift, with a commitment to “block dirty money flowing into the City of London”. It unveiled radical plans to “overhaul the approach to tackling economic crime, with greater partnering between the government, law enforcement and [...]
Top lawyer at City firm attacks £100,000 starting salaries October 23, 2020 The senior partner of a top law firm has criticised starting salaries soaring to six figures for some newly qualified solicitors saying they are “unsustainable”. “The levels of pay in major private practice law firms are completely unsustainable”, Richard Foley, senior partner at Pinsent Masons told the Innovative Lawyers Summit on Thursday. “You see stuff [...]
KPMG considering sale of UK restructuring business October 22, 2020 KPMG is considering selling its UK restructuring business as the accounting giant looks to shore up its finances after delaying its annual results amid the disruption caused by Covid-19. The firm is exploring options for the division including a possible sale as the Big Four accountants prepare for extensive reforms of their business to comply [...]