Creating a new Corporate Auditor profession May 12, 2021 | City Talk ICAS has issued its Corporate Auditor report, setting out how Sir Donald Brydon’s recommendation to establish a Corporate Auditor profession could be implemented in practice. ICAS notes with interest the intention of BEIS, as proposed in its consultation paper ‘Restoring trust in audit and corporate governance’ (March 2021), to take forward the recommendation by Sir [...]
Begbies Traynor makes fourth acquisition this year May 10, 2021 Begbies Traynor has bought Midlands-based finance broker MAF Property, marking its fourth acquisition of the year as the group continues to focus on growth. The London-listed professional services firm will pay a maximum of £11.75m for MAF Property, with an initial cash payment of £3m, followed by the potential for an additional £8.75m subject to [...]
Companies in conflict: 400 per cent increase in legal threats and complaints May 8, 2021 The number of legal threats and complaints made against UK businesses has more than doubled over the past two years and increased four-fold since 2016, with businesses more likely than ever to face the risk of legal action. In the past five years, more than half (56 per cent) of all businesses have faced an [...]
Ministers to start searching for new audit watchdog chair May 7, 2021 The Department for Business, Energy and Industrial Strategy (BEIS) will shortly kick off the search for the new chair of the Financial Reporting Council (FRC). BEIS will advertise for the role in the coming weeks, Sky News first reported. The FRC’s current interim chair Keith Skeoch has reportedly had his contract extended in recent weeks [...]
KPMG UK puts a woman back in charge of its audit division May 7, 2021 Catherine Burnet has been made KPMG UK’s new head of audit, taking over from Jon Holt, who recently became chief executive at the Big Four firm. Burnet’s career with KPMG spans more than 25 years and has seen her as regional chair for Scotland, Edinburgh office senior partner and a lead partner on a number [...]
KPMG staff to leave early in the summer as firm embraces hybrid working May 5, 2021 Staff at KPMG will be able to leave early one day a week during the summertime, as the Big Four firm moves to hybrid working post-pandemic. The Big Four firm has finalised its plans for flexible working in a post-pandemic world. KPMG staff will spend on average just two days a week in the office [...]
Three-quarters of new FRC panel members being ex-Big Four causes interest concerns May 5, 2021 The majority of individuals recently recruited to the FRC’s advisory panel have at some point worked for a Big Four firm, raising concerns about their objectivity when it comes to making recommendations that are in the public interest. The Financial Reporting Council (FRC) recently announced 19 new appointments to its advisory panel, a body established [...]
Ex-Irwin Mitchell duo set up London boutique employment firm May 4, 2021 Former Irwin Mitchell partners Emilie Cole and Shazia Khan have launched a boutique law firm specialising in employment and professional discipline law. The firm, Cole Khan, is located in Chancery Lane, London’s legal heartland, across the road from the Law Society. Currently the firm is all-female, with just the founding partners, though it is looking [...]
Government spends £624m on consultancy contracts during pandemic May 4, 2021 The government has awarded contracts worth at least £624m to private firms for consulting, marketing and research purposes during the pandemic, despite criticism it has been too reliant on private firms during the crisis. In total some £30.2bn in contracts have now been awarded by the UK government in response to Covid-19, the latest figures [...]
ETL Global doubles UK legal footprint with London law firm buy May 4, 2021 International professional services group ETL Global has acquired Laytons, in a deal that will double the company’s footprint in the UK legal sector. Laytons, located just down the road from Liverpool Street station, is a 30-partner firm and employs a further 66 people. ETL has not disclosed how much it paid for the London firm, [...]