Law firm CRS ‘threatening staff with pay cuts to return to the office’ December 18, 2020 International law firm Charles Russell Speechlys (CRS) has been accused of threatening staff with pay cuts if they do not return to the office, despite official government guidance urging those who can to work from home. Staff were allegedly told coronavirus fears are not a reason to work from home, and if they wanted to [...]
Sacked PwC accountant avoids strike-off after drunkenly groping sleeping woman on plane December 17, 2020 Ex-PwC accountant James Phipps has avoided being struck off by a disciplinary body, despite serving time in jail in the US for assaulting a sleeping woman on a plane. Phipps was on a transatlantic British Airways flight in 2018 when he groped a sleeping woman’s breasts and then threw a book at her when she [...]
PwC partners take 10 per cent cut as profits suffer December 17, 2020 Partners at PwC have suffered a 10 per cent cut to their earnings as the impact of the coronavirus hit the Big Four firm’s profits. Profits at the audit giant fell by 8 per cent to £938m in the firm’s latest financial year, as Covid-19 impacted on the business from March, with distributable profit per [...]
Exclusive: 33,000 suspicious activity reports filed as Covid fuels fraud December 17, 2020 Some 33,000 suspicious activity reports (SARs) linked to the Covid-19 pandemic have been filed this year, suggesting government schemes designed to help people and businesses through the pandemic are open to abuse. SARs are filed by professionals working in a regulated sector, typically bankers, lawyers and accountants, and alert law enforcement to potential instances of [...]
Lloyd’s pledges to end investment in coal in first climate change policy push December 17, 2020 Lloyd’s of London will end investment in thermal coal-fired power plants, thermal coal mines, oil sands and new Arctic energy exploration activities as part of the market’s first ESG strategy. Lloyd’s typically has a more hands-off approach when it comes to climate change strategy. The market acts as regulator for around 100 syndicate members, and [...]
EY chair: ‘Nobody wants to go back to full time in the office’ December 17, 2020 Almost nobody will want to go back to working five days a week in the office post-pandemic, according to EY UK chair Hywel Ball, after employees have enjoyed the convenience of home working for most of 2020. Speaking to City A.M. Ball said offices were likely to look very different post-pandemic, and that staff would [...]
RSM pays back £4.4m furlough cash December 16, 2020 Audit challenger firm RSM has repaid £4.4m to the government, having decided to do so in a board meeting earlier this month, City A.M can reveal. RSM’s board made the decision to repay the the money in full on 8 December. CEO Rob Donaldson said the firm did not see the decision as an opportunity [...]
Queen faces technical hitch during KPMG video call December 16, 2020 The Queen faced a technical hitch while on a call with KPMG yesterday, proving even the royal family are not immune from video call mishaps. Her Majesty paid a virtual visit to KPMG on Tuesday to mark the firm’s 150th anniversary, where she spoke via video call with five individuals at the Big Four firm. [...]
London FOIL appoints Weightman’s partner as new president December 14, 2020 London FOIL has just appointed Ling Ong as their new president to lead the organisation through 2021. London FOIL is an arm of the Forum of Insurance Lawyers, concentrating on the global insurance and reinsurance markets. Ling Ong is also a partner at UK law firm, Weightmans. Ong has been appointed to replace the outgoing [...]
Accountants BDO to pay back millions in furlough cash after payout outcry December 13, 2020 Accountants BDO will return £4.1m in furlough cash after being subject to a barrage of criticism for paying out hefty profits to its partners. The Sunday Times reported that the company, which is one of the UK’s biggest accounting firms, would give back the money after paying its partners an average of £500,000. Managing partner [...]