KPMG creates 200 jobs in Belfast February 17, 2021 Big Four firm KPMG is creating 200 jobs in a new “centre of excellence” in Belfast. The new investment will deliver services in cyber security, applied intelligence and digital transformation. The new centre is a joint initiative between KPMG in Ireland and in the UK, and has the support of InvestNI and the Department of [...]
More than a third of UK small businesses pushing to trade overseas in 2021 February 16, 2021 More than a third of UK small businesses are likely to trade overseas this year, according to a YouGov survey. Lawbite surveyed 791 small businesses and found that 38 per cent are planning to trade overseas this year, which would equate to a market size of 2.28m firms. However, despite the effects of Brexit border [...]
Court papers detail Grant Thornton’s alleged errors in Patisserie Valerie audits February 14, 2021 FRP Advisory has reportedly filed legal documents detailing Grant Thornton’s alleged errors in its auditing of Patisserie Valerie after launching a £225m court claim against the professional services firm. FRP Advisory, liquidator to the cafe chain, said the auditor’s negligence meant Patisserie Valerie bosses were unaware the firm had run out of funds. It alleges [...]
Exclusive: Britain’s 10,000 law firms largely spared from pandemic onslaught February 12, 2021 Despite the pandemic, the number of law firms has remained steady, with 10,080 currently registered in the UK, according to new research. The number of firms is down only 2 per cent compared to last year, as 10,278 firms were registered in December 2019, according to accountancy and business advisory firm Hazlewoods. Though many firms’ [...]
Out with the old: Time to reform the legal profession for the benefit of all sides February 11, 2021 It may seem like an odd time to be thinking about reforming the way lawyers work, but if so much can change because of a pandemic, why shouldn’t the post-Covid era be a period of reform and progress? This year will be the first in which the UK’s ability to compete in the global professional [...]
KPMG’s embattled chairman: ‘Unconscious bias is complete crap’ February 11, 2021 KPMG UK chairman Bill Michael has been caught on camera describing unconscious bias as “complete crap”, in the same video call he told staff to stop moaning about pandemic working conditions. Earlier this week Michael was forced to step aside from his leadership position at the Big Four firm, after it was revealed he had [...]
China orders Deloitte to investigate PowerPoint whistleblower claims February 11, 2021 China’s Ministry of Finance has asked Deloitte to conduct an internal investigation after an employee circulated a 55-page PowerPoint presentation that alleged accounting violations at the Big Four firm. The anonymous employee sent the presentation to every Deloitte employee’s email, citing incidences involving listed companies around the world and China’s own RYB Education. The presentation [...]
Ex-FCA chief Woolard nabs leadership role at EY February 11, 2021 Chris Woolard, the former interim chief executive at city regulator the Financial Conduct Authority (FCA), has nabbed a leadership role at EY. Woolard will join the Big Four firm in April to lead its EMEIA financial services regulatory capabilities, and chair the EY Global Financial Services Regulatory Network. He will replace John Liver, who currently [...]
KPMG UK chair steps down after telling staff to ‘stop moaning’ February 10, 2021 KPMG UK chairman Bill Michael is stepping aside amid a probe into alleged comments made during an online meeting with consultants. On Monday, the Financial Times first reported Michael told consultants to “stop moaning” about working conditions during the pandemic. He reportedly told staff to stop “playing the victim card”. The chairman apologised saying: “I [...]
Exclusive: Brexit hit to London may top £9.5bn a year without EU financial services deal February 10, 2021 As the heart of the UK's service sector economy, London is in line to lose up to £9.9bn a year if a post-Brexit deal on financial services doesn't protect the City, new research out this morning finds.