EY’s UK offices to close for one day to force staff to take holiday June 17, 2020 EY is set to shut most of its offices for a day this summer to encourage staff to use up their annual leave, as employees remain reluctant to take holiday during lockdown. The accountancy firm told its employees about the scheduled day off in a memo this week, first reported by Financial News. It came [...]
Former FRC chairman Simon Dingemans joins Carlyle June 15, 2020 The former chairman of the Financial Reporting Council (FRC) who stepped down last month has taken a new role at private equity firm Carlyle. Simon Dingemans, who left the accounting watchdog in May, will join Carlyle as a managing director in charge of UK buyouts, first reported by the Financial Times. He will also reportedly [...]
IP lock-out: Is Britain handing the EU the keys to a billion-pound industry? June 8, 2020 We are getting close to crunch point in the Brexit negotiations. Last week saw the culmination of the final round of talks between the EU and the UK ahead of the 30 June deadline to agree an extension to the transition period. Given the glacial progress so far, a sudden breakthrough appears highly unlikely, with [...]
PwC to reopen UK offices from 8 June following coronavirus lockdown easing June 3, 2020 Big Four accountancy firm PwC said today it would reopen offices across the UK from 8 June as the coronavirus lockdown eases. The firm said it would open its London, Birmingham, Manchester, Leeds, Reading, and Bristol offices from next Monday. Kevin Ellis, PwC UK chair and senior partner, said: “Just because we can work from [...]
Tilney and Smith & Williamson strike revised merger deal with Warburg Pincus investing in the group June 1, 2020 Wealth managers Tilney and Smith & Williamson have agreed a revised merger deal with private equity fund Warburg Pincus investing in the combined group. The deal had looked in doubt after regulatory problems and the coronavirus crisis meant an initial deadline to agree a merger was missed. Today, the pair said as part of the [...]
‘The trouble with dreams is you wake up’ – DWF hammered after CEO exit May 29, 2020 The magnitude of the ousting of listed law firm DWF’s chief executive Andrew Leaitherland today for the future of the business cannot be overstated. Leaitherland was no technocratic leader or managerial gun for hire. It was his vision and drive that took the firm from its humble northwestern roots to make history as the first [...]
Listed legal business DWF ousts chief executive amid covid-19 crisis May 29, 2020 Listed legal business DWF today announced it was ousting its longstanding chief executive in favour of its chair to help steer it through the coronavirus pandemic. Chief executive Andrew Leaitherland is stepping down from DWF “with immediate effect” to be replaced by chair Sir Nigel Knowles who was previously chief executive of legal giant DLA [...]
FRC probes KPMG and PwC’s Eddie Stobart audits May 26, 2020 The accounting watchdog has opened investigations into audits by KPMG and PwC of haulage firm Eddie Stobart Logistics. In August, Eddie Stobart sacked its chief executive and suspended trading in its shares after an accounting investigation found its 2018 profits had been overstated by £2m. A review of the company’s accounts, undertaken by finance chief [...]
Easyjet woes grow after it is hit with massive group action claim over data breach May 22, 2020 Struggling budget airline Easyjet suffered another blow today after it was hit with a massive group action claim following its data breach which was announced earlier this month. Law firm PGMBM today said it had issued the group action claim in the High Court on behalf of customers whose details were exposed in the breach. [...]
Chair of audit watchdog the FRC Simon Dingemans resigns after less than nine months May 20, 2020 Former Glaxosmithkline finance boss Simon Dingemans has stepped down as chair of audit watchdog the Financial Reporting Council (FRC) less than nine months after taking the role. Dingemans was appointed last July to chair the FRC and oversee its transformation to the Audit, Reporting and Governance Authority (ARGA) after the FRC was heavily criticised for [...]