BDO exec on Treasury clampdown on crypto advertising: ‘We all knew this day was coming’ January 19, 2022 The Treasury outlined plans yesterday to legislate to address misleading cryptoasset promotions. Adverts will be brought into line with other financial advertising, ensuring they are fair and clear, with the new rules designed to increase consumer protection. “This is the day promoters of cryptoassets have known was coming for a long time, commented Adam Soilleux, [...]
Tetrosyl seeks £1m in compensation from BDO over 9-month audit delay January 26, 2022 Rochdale-based car products manufacturer Tetrosyl is seeking more than £1m in compensation from Belgian accountancy firm BDO, over claims that BDO’s “inadequate” handling of its audit damaged Tetrosyl’s relationships with its contractors and led to Tetrosyl’s directors facing criminal proceedings from Companies House. In documents seen by The Times, Tetrosyl said BDO’s nine-month delay in [...]
BDO faces FRC investigation over audit of collapsed construction firm October 21, 2021 Accountancy firm BDO is being investigated by the UK accounting regulator over its audit of collapsed construction company NMCN. The Financial Reporting Council confirmed on Thursday it was examining the BDO’s audit of NCMN’s financial statements and its final set of accounts before it filed for administration on October 4. BDO resigned as the group’s [...]
BDO: Hybrid working could bring a needed boost social mobility September 30, 2021 Hybrid working could boost social mobility in the UK, according to new research, as young people from disadvantaged backgrounds favour the pandemic-era model more than those who are wealthier. Over a third of those surveyed from lower-socioeconomic environments think hybrid working can give them a better work-life balance, 10 per cent more than 16 to [...]
BDO hires record number of new trainees to its audit team September 15, 2021 Accounting firm BDO has announced that it has hired over 450 new trainees into its audit team this year, as the so-called ‘challenger’ firm bolsters its auditing arm. BDO said it had brought on more than 600 new trainees across departments since the start of 2021 – more than it has ever done before. Most [...]
BDO: A third of companies risk losing business if they ignore the rise of ESG August 31, 2021 As environmental, social and governance (ESG) measures climb higher on both the consumer and investor agenda, companies will begin to lose business if they fail to get on board, new data has found. Almost a third of mid-market companies have admitted they face a “high” or “very high” risk of losing out on business if [...]
Partner pay of £760m puts BDO ahead of Big Four rivals EY and KPMG as challenger firm sees revenue surge December 2, 2021 Partners at BDO saw their profits increase to over three quarters of a million pounds, putting them ahead of their peers at rival firms EY and KPMG. Profit per equity partner before tax increased to £760,000 at BDO following a 14 per cent drop last year, while EY partners were paid an average of £749,000 [...]
BDO becomes latest auditor to tell staff to work where they like May 17, 2021 BDO has told staff to decide where they would like to work post-pandemic, in a move that adopts a more flexible model than some of its rivals. The challenger audit firm will ask staff to work wherever is most productive, depending upon the task they are doing. For most people this will likely mean a [...]
BDO: Sunak faces all sorts of challenges February 28, 2021 In many ways the first Budget of 2021, which is set to take place on Wednesday, feels like a significant one. It’s against a backdrop of an ambitious roadmap recently unveiled by the Prime Minister to take us out of lockdown, while at the same time the deficit is the highest seen in the post-war [...]
BDO: Business output fell to lowest levels on record in 2020 January 10, 2021 UK business output fell to its lowest ever levels in 2020 due to the coronavirus pandemic, a new survey by accountants BDO has found. BDO’s output index averaged 73.62 last year, the lowest figure since the measure was introduced in 2005. Previously, the lowest annual average had been 83.28, which was recorded during 2009’s financial [...]