Sir John Kingman says lack of government action putting audit reform at risk October 15, 2019 The author of a report into the future of the audit regulator warned today that lack of government action risks letting the watchdog “drift on, half-reformed”. Former mandarin Sir John Kingman undertook the report into the Financial Reporting Council (FRC) following the failure of outsourcer Carillion in 2018. Kingman expressed his concerns in a letter [...]
Auditors slapped with rising fines after turbulent year October 14, 2019 Britain’s beancounters faced rising fines over the last year, as the industry’s watchdog upped its penalties following a series of major accountancy scandals. The Financial Reporting Council (FRC) fined audit firms roughly £24.3m in the year to the end of September, rising 44 per cent on the previous year, according to new Thomson Reuters research. [...]
Longer prison sentences given out for tax evasion October 14, 2019 Prison sentence lengths for tax evasion rose by 10 per cent on average last year as the taxman pushed for tougher punishments to dodgng payments. The average sentence for the deliberate non-payment of tax rose to two years and seven months in 2018 – an increase of two months on 2017’s figures – according to [...]
Ex-Freshfields partner escapes strike off after sexual misconduct allegations upheld October 10, 2019 An ex-Freshfields partner escaped being struck off today after a tribunal found he had engaged in sexual activity with a heavily intoxicated junior lawyer. Ryan Beckwith, 41, tearfully hugged and kissed his wife after the sanction was handed down. The Solicitors Disciplinary Tribunal (SDT) fined Beckwith £35,000 and ordered him to pay costs of £200,000. [...]
Shares in recruiter Pagegroup tumble as it warns on profits for second time October 8, 2019 Recruiter Pagegroup delivered its second profit warning of 2019 today sending shares tumbling, blaming challenging trading conditions in the UK, France and China and deteriorating economic conditions in markets such as Germany. The recruiter cut its forecast for 2019 operating profit to between £140m and £150m, down from earlier market estimates of between £156.5m and [...]
BDO profits jump as partners enjoy pay rise October 7, 2019 BDO has reported a double-digit rise in profit and revenue for the last 12 months, as the accountancy giant ramped up the pressure on its larger under-fire Big Four rivals The beancounter enjoyed its seventh consecutive year of growth after profits rose 26 per cent to £134m and revenues jumped 25 per cent to £578m. [...]
Ex-Freshfields lawyer accused of lying about sex assault allegations October 2, 2019 An ex-Freshfields lawyer was today accused of fabricating her account of an alleged non-consensual sexual encounter with a married partner at the firm. The Solicitors Disciplinary Tribunal heard evidence from the unnamed female lawyer, known as Person A, who accused Freshfields partner Ryan Beckwith, 41, of sexually assaulting her at her flat after an evening [...]
Trying to impeach Boris would be an unmitigated catastrophe October 2, 2019 Rumours are swirling in Westminster of a plot to impeach Boris Johnson. The news broke over the weekend that, inspired perhaps by the US Democrats’ move against Donald Trump, opposition parties are considering moving to strip the Prime Minister of his position. This is foolish and dangerous. For a start, it is entirely unclear if [...]
DEBATE: Have the Conservatives re-established themselves as the party of law and order? October 2, 2019 Have the Conservatives re-established themselves as the party of law and order? Jack Powell, editor of 1828, says YES. The home secretary stands in front of the police federation, berating them about everything from decades-long scandals to not working with her constructively enough Five years later, one of her successors pledges to give her full [...]
Ex-Freshfields lawyer says incident with married partner left her with mental health problems October 1, 2019 A former Freshfields Bruckhaus Deringer lawyer told a court today that an alleged incident of non-consensual sexual activity with a married partner at the firm had left her feeling “absolutely terrible” and in need of ongoing mental health support. The Solicitors Disciplinary Tribunal heard the lawyer give evidence from behind a screen about the allegations [...]