Save the date: Article 50 decision due on 24 January January 18, 2017 Mark it up in your diary: The Supreme Court will deliver its judgment in the Article 50 decision on the morning of 24 January. The Brexit case was heard by all 11 Supreme Court justices last month, after the government appealed a November decision from a trio of High Court judges, who ruled the government could [...]
Think fast! Don’t risk not protecting your ideas January 18, 2017 It's a true thrill to have a hallelujah moment, when, suddenly, the penny drops and you work out how to do something in a more efficient manner. Alternatively, it might be an idea for a new product, or a repurposing of a device for doing something new. But what do you do next? Write down notes? [...]
Fraud squad’s year-and-a-half long investigation set Soma Oil & Gas back £4.5m January 17, 2017 The fraud squad's year-and-a-half long investigation into Soma Oil & Gas cost the company £4.5m, City A.M. has learned. The Serious Fraud Office (SFO) opened an investigation into Soma in July 2015 following allegations of bribery and corruption before closing it in December last year. The UK company, which is chaired by former Tory leader Lord [...]
The UK has shot up the corporate fraud rankings with an annual spike in incidences January 17, 2017 Fraud incidents have shot up at UK businesses during 2016, catapulting Britain towards the summit of global corporate fraud rankings. Over the last 12 months the proportion of British businesses saying they had been affected by fraud jumped from 74 per cent to 90 per cent. Read more: Rolls-Royce to pay £671m to settle corruption [...]
Saga picks KPMG as its new auditor, replacing EY after a 10-year relationship January 17, 2017 Saga has ditched Ernst & Young (EY) as auditors in favour of KPMG, the company announced this morning. EY has been the FTSE 250 firm's group auditor since September 2014, having previously been appointed auditor across the Saga's principal trading subsidiaries in 2007. Read more: Over 50 per cent growth to Saga profits Under audit directives, listed [...]
National Audit Office: Concentrix £1bn tax credit outsourcing delivered savings of less than a fifth than was expected January 17, 2017 A catalogue of errors in relation to outsourcing tax credits has been laid bare in a damning report by the public spending watchdog. Highlighting a series of shortcomings, the National Audit Office (NAO) today released its findings into HM Revenue & Customs’ (HMRC) controversial outsourcing arrangement with Concentrix. HMRC estimated £1bn of savings could be [...]
Rolls-Royce to pay £671m to settle corruption probes with three global fraud squads January 16, 2017 Rolls-Royce is in the final stages of locking down corruption and bribery probe settlements worth £671m in total with three authorities around the world, with the lion's share going to the UK's fraud squad. The British engineering company today announced today it has reached in principle a deferred prosecution agreement (DPA) with the Serious Fraud Office (SFO), [...]
Mazars opts for Verity to lead the firm for the next four years January 16, 2017 Many workers in the Square Mile may be dusting off their CVs, thinking a change will assuage downbeat sentiment experienced on Blue Monday. But the head of one accountancy firm may beg to differ and is proof that sticking with one firm can pay dividends. Phil Verity has been re-elected as the senior partner of mid-sized accountancy firm [...]
Article 127 court hearing now due in February, as the government awaits answer to Article 50 legal battle January 15, 2017 A court hearing that could cause a headache for Prime Minister Theresa May, as she plans to trigger Article 50, has been postponed until early February. A case brought last year argues the government cannot leave the Single Market without triggering Article 127 of the European Economic Area agreement – and says it must seek approval [...]
Employers must act early when strike action looms: Industrial action and what can be done January 13, 2017 Strike action is continuing to cause significant disruption for commuters, business travellers and holidaymakers in early 2017 – but could it have been prevented? Southern Rail has announced that it is going ahead with three-day stoppages of its train services this month – the first started this week – and British Airways’ cabin crew held a 48-hour strike [...]