The future eminence of our legal sector rests on more than Brexit May 23, 2019 Ever since the referendum, we have seen dire warnings that London risks losing its place as a global business hub. We have read countless stories of other European cities pitching for our international financial services sector, and there are now concerns that the continental courts are gearing up for an assault on its preeminent status [...]
Goldman Sachs taps Mazars for European audit in blow for Big Four May 20, 2019 Goldman Sachs has appointed Mazars to audit its London-based European operations, making it the first large bank in the UK to shun the Big Four. Read more: Big Four could force judicial review into proposed audit reforms The US investment bank has selected the Paris-headquartered auditor, which is the eighth-largest in the UK by fee [...]
Loopholes in anti-money laundering law could be exploited by criminals, MPs and Lords say May 20, 2019 A joint parliamentary Committee today raised concerns that criminals could exploit loopholes in a new bill aimed at clamping down on laundering money through UK property. The joint Committee on the draft Registration of Overseas Entities Bill welcomed the legislation, but said in its current state it could be circumvented by criminals. Read more: EU [...]
Exiles on St Mary Axe: Turkish law firm fleeing Erdogan regime establishes itself in London May 20, 2019 After the failed July 2016 coup against Turkey’s President Recep Tayyip Erdogan, one of the country’s largest law firms was closed by police amid a wider crackdown that saw journalists jailed, judges detained and generals purged. The firm had formerly been the Turkish arm of international legal giant DLA Piper, and its founding partners were [...]
DEBATE: Are workplace non-disclosure agreements (NDAs) being attacked unfairly? May 20, 2019 Are workplace non-disclosure agreements (NDAs) being attacked unfairly? Trevor Bettany, partner at Charles Russell Speechlys, says YES. Workplace NDAs have long been used to enable employers and employees to protect their reputations and move on following the breakdown of a working relationship, by providing assurances that neither party can discuss details of the often-disputed complaints. [...]
Staffline on track for worst day in history as shares lose 50 per cent over Brexit worries May 17, 2019 Staffline lost over half its value on the market today and was on track for its worst day ever as it said Brexit uncertainty was causing companies to offer full-time roles to temporary workers, cutting out the need for the agency. Shares fell 52 per cent to 397p as the company warned that earnings before [...]
KPMG UK introduces new audit structure but falls short of full separation May 16, 2019 Big Four firm KPMG said today it was introducing a new structure to move its audit arm away from the rest of its UK business, but falling short of a full separation. The move follows a report from the Competition and Markets Authority which called for a separation of audit from consulting services after a [...]
With increased scrutiny of the profession, it’s time for auditing to be in the public interest May 16, 2019 Auditing in the UK is undergoing unprecedented scrutiny, and the magnifying scope is focusing on all aspects of the sector. The myriad reviews, some of which are ongoing, are being conducted by regulators, politicians and government departments, each separately looking at audit’s effectiveness, competition across the sector, and its future in general. Most notably, the [...]
One in three female lawyers sexually harassed at work, comprehensive survey shows May 15, 2019 A comprehensive report launched today by the International Bar Association has unveiled the scale of sexual harassment and bullying within the legal sector. The survey of nearly 7,000 lawyers worldwide, found one third of female lawyers had been sexually harassed and one-in-two had been bullied. Read more: Lloyd's of London will ban drunk staff from [...]
The future of justice depends on fixing the forensic science crisis May 13, 2019 Forensic science is a compelling piece of the puzzle in most crime dramas. We are fascinated by it, and rightly so – what science enables us to detect has transformed how we reconstruct criminal events, whether using digital information like phone data and automated recognition technologies, or detecting DNA traces that often go unnoticed. And [...]