Audit watchdog hikes business levy by 8.5pc January 22, 2013 THE UK’S audit watchdog has announced plans to hike levy rates by 8.5 per cent. The Financial Reporting Council (FRC)’s move was criticised by firms yesterday but the regulator said the increase was necessary as it attempts to clear a backlog of cases and deals with extra regulation. The FRC is upping its budget by 10 [...]
RSM Tenon parts ways with PwC December 6, 2012 RSM Tenon has officially ditched PwC as its auditor, after nearly two thirds of shareholders voted down the firm’s reappointment. RSM Tenon has already started looking for a new auditor, after it discovered a black hole in its books in January that sparked a profit warning and a change in management. The accountancy regulator is [...]
RSM Tenon says watchdog has stepped back November 19, 2012 BELEAGUERED accountancy firm RSM Tenon yesterday warned its most recent turnover figures had disappointed management expectations, but the firm was still making impressive profits. The company, which announced it is cutting 400 staff to trim costs and turn around the business, said in its interim management statement yesterday that revenues in the first quarter were [...]
BDO and PKF in talks for audit merger deal November 7, 2012 BDO and PKF are in advanced talks to merge their UK operations, the accountancy and advisory firms revealed yesterday. A tie-up, which is expected to take place early next year, would give the group extra firepower to compete with Grant Thornton for mid-market audit and business advisory clients. The firms said the enlarged company would [...]
RSM Tenon tries to turn the page after dire year October 17, 2012 EMBATTLED professional services firm RSM Tenon tried to draw a line under an “unsatisfactory” year yesterday, after reporting a pre-tax loss of £101.8m. The firm said it is cutting 400 staff, more than first planned and with some compulsory redundancies, as part of its turnaround. It has overhauled its top staff this year after discovering [...]
HMRC launches crackdown on London lawyers September 18, 2012 THE LEGAL industry reacted with surprise yesterday after Her Majesty’s Revenue & Customs (HMRC) announced a crackdown on tax dodging by London lawyers, with the aim of recovering up to £3m in missed payments. “It is not, at present, clear to us exactly why the legal profession has been targeted by HMRC,” said Michael Todd, [...]
City slams wealth tax August 29, 2012 A WEALTH tax would hurt economic growth, drive firms away from Britain and fail to raise anywhere near enough money to solve the government’s financial problems, an array of City leaders argued yesterday, attacking Nick Clegg’s proposals as “the politics of envy”. Chancellor George Osborne also dismissed the deputy Prime Minister’s attempt to revive the [...]
PwC hit with RSM Tenon probe August 13, 2012 Professional services firm PwC faces an investigation from the accounting regulator over its handling of RSM Tenon Group’s 2010 and 2011 audits, the Financial Reporting Council announced yesterday. The Accountancy and Actuarial Discipline Board will probe the conduct of PwC and other members of the Institute of Chartered Accountants in England and Wales (ICAEW) over their [...]
CITY MOVES WHO’S SWITCHING JOBS June 5, 2012 VAT Consultancy The VAT and customs duty advice firm has appointed Julie Park (right) as its new managing director, responsible for the daily running of the business and corporate expansion. Park is a former director at Deloitte and will work alongside VAT director Steve McIntyre. RSM Tenon Tim Ingram has been appointed as chairman at [...]
Ex-Collins Stewart chair to lead board of accountant RSM Tenon May 31, 2012 TIM INGRAM, the former chief executive of Collins Stewart Hawkpoint, was yesterday announced as the new chairman of accountant RSM Tenon. Ingram will replace outgoing Adrian Martin, who said last month he would step down after just three months in the role. The appointment follows a troubled few months for the firm, which in January ousted [...]