EY pays $9.3m to settle charges that former auditors got ‘too close’ to clients on a personal level September 20, 2016 Accounting firm Ernst & Young (EY) is to pay out $9.3m (£7.1m) to settle charges that two of its former auditors got "too close to clients on a personal level", according to the US Securities and Exchange Commission (SEC). The SEC said the ex-auditors broke rules aimed at ensuring reviews were impartial. SEC investigations found that the [...]
Accountancy firm celebrates 14 per cent revenue rise after merger September 19, 2016 Accountancy firm Moore Stephens LLP has reported a revenue rise of 14 per cent. The firm, which merged with Chantrey Vellacott DFK LLP in May 2015, also reported having more than £13m of new business. “At the time of the merger, we were confident it would provide a platform for continued, sustainable growth – and [...]
BlackRock piles into €2bn VW investor lawsuit September 15, 2016 The world's largest money manager, BlackRock, is adding considerable weight to a pile of investors who want cash from Volkswagen over emissions rigging. Law firm Quinn Emanuel will file the suit on behalf of a group of investors – including BlackRock – who are seeking a total of €1.3bn (£1.1bn). Earlier this year Quinn Emanuel [...]
We need to change perceptions of apprenticeships – especially for entry into professional jobs September 14, 2016 Barely weeks after the drama of A-level results, new university students can probably be forgiven for not interrupting the bacchanalia of Freshers’ Week to think too hard about their future careers. Yet the first term of university and independence can be a tumultuous time, and many bright young students will likely find themselves rethinking their [...]
PwC grows revenues by 11 per cent and champion long-term investment in technology and people September 12, 2016 Big Four accountants PwC reported double-digit revenue growth for the second year running. And although it warned that the impact of the Brexit vote is “still being worked through” it was confident Britain was agile enough to deal with change. Revenues grew by 11 per cent to £3.4bn for the year to June 2016 – a rate [...]
Insurtech investment in the UK has tripled September 6, 2016 Investment in the insurance technology sector – part of London's world leading fintech scene – is booming. More than $22m (£16.5m) has been ploughed into insurtech so far this year – nearly triple the amount invested in the whole of last year and faster growth than any other country in the world. The research from Accenture and CB Insights, [...]
Next week’s junior doc strike called off September 5, 2016 The British Medical Association (BMA) has called off next week’s planned five-day strike over new contracts due to concerns over patient safety. Future dates planned for October, November and December will still go ahead unless the government calls off its plans to impose the new contract from next month. The walkout – which was only announced [...]
Private health market will not get treatment September 5, 2016 London's private healthcare market will not be subjected to further remedies, the Competition and Markets Authority (CMA) has decided. The Competition Commission, a predecessor to the CMA, started a market investigation into private healthcare in April 2012, which reported in April 2014 and required HCA International Limited, the largest private hospital operator in central London, [...]
HM Revenue & Customs (HMRC) rakes in £3bn by getting people to cough up early in investigations September 5, 2016 The taxman has bagged itself billions under recently introduced rules which allow it to force those currently under investigation to hand over the disputed tax in advance, it has been revealed today. Since the Accelerated Payment Notices (APN) rules were introduced in 2014, HM Revenue & Customs (HMRC) has issued 60,000 such notices to bring in £3bn earlier than [...]
Taxman sets up last chance saloon for those with hidden wealth offshore September 5, 2016 HM Revenue & Customs (HMRC) has today launched an online disclosure facility, aimed at those with outstanding tax liabilities from offshore wealth. The Worldwide Disclosure Facility (WDF), which was announced in the 2015 Budget, will offer no special deals to those who come forward but will be the last chance for people to come clean before a [...]