Incoming FRC chair sits on board of construction group facing criminal probe Accountancy The woman in line to become chair the Financial Reporting Council (FRC) sits on the board of a company currently under criminal investigation, City AM can reveal. Dame Jayne-Anne Gadhia, who has already faced committee criticism over her heavy workload whilst seeking approval to C government named Gadhia last month as the next chair of [...]
Private equity-backed advisory firm acquires specialist music boutique Advisory Mid-tier accountancy and advisory firm BKL has snapped up a smaller counterpart in its latest acquisition, aiming to strengthen its focus on the music, media, and entertainment sector in London. City-based BKL, which offers tax, accounting, and business advisory services, has snapped up specialist music accountancy firm Dales Evans, as it “continues to expand its [...]
AI gold rush leaves accountancy firms exposed to costly cyberattacks AI Accountancy firms are pouring millions of pounds into AI, but the industry forgot to modernise security systems and is leaving itself exposed to costly cyberattacks. According to a report by software company Fastly, shared with City AM, more than 75 per cent of businesses that identified as AI-first, meaning they had integrated AI into core [...]
Deloitte snaps up construction cost boutique to target infrastructure boom August 4, 2026 Deloitte has snapped up a niche construction consultancy as the Big Four firm looks to capitalise on the growing demand for tighter financial controls on major infrastructure projects. Deloitte has acquired The Orange Partnership, a Midlands-based consultancy specialising in cost verification and cost assurance in the construction sector, City AM can reveal. The deal comes [...]
Watchdog probes KPMG over Wood Group audit July 30, 2026 The audit watchdog has opened an investigation into Big Four giant KPMG and two accountants over the accounts belonging to engineering and consulting firm John Wood Group. The Financial Reporting Council (FRC) revealed on Thursday that it officially launched two separate regulatory investigations concerning the financial reporting and statutory auditing of the former London-listed group. [...]
Grant Thornton set for $5bn CBIZ buyout in landmark accountancy deal July 29, 2026 Grant Thornton is set to buy New York-listed management consulting firm CBIZ in a proposed $5bn deal, one of the largest transactions of its kind in the accountancy sector, creating the fifth-largest professional services firm in the US. CBIZ, the only audit firm listed on the US stock market, is set to be acquired by [...]
‘You can blame us’: The firm that sparked accountancy private equity gold rush July 29, 2026 Blick Rothenberg’s chief executive, Nimesh Shah, told City AM the firm ‘killed’ the traditional partnership model a decade ago, and now stands as the blueprint that every mid-tier accountancy competitor is trying to emulate. City-based Blick Rothenberg is widely recognised as the first major UK accountancy firm to receive private equity backing, after HgCapital invested [...]
Grant Thornton partners pocket £35m from private equity deal July 28, 2026 Equity partners at professional services giant Grant Thornton’s UK arm received a £35.2m payout after a large stake in the firm was bought by private equity-backer Cinven. According to Companies House filings, as seen by City AM, a considerable one-time payout of £35.2m was made to “certain individuals” who are equity partners at the firm. [...]
EY and London managing partner fined over £1.3m for audit failure July 28, 2026 Big Four giant EY and its London office managing partner have been hit with a nearly £1.3m fine by the financial watchdog for audit failings related to retailer Made.com in 2021. The Financial Reporting Council (FRC) said the sanction follows an investigation into Julie Carlyle, who manages the City office and a portfolio of many [...]
Big Four’s AIM exodus accelerates as mid-tier firms seize mandates July 27, 2026 Mid-tier audit firms scooped up new clients as the Big Four giants executed an intentional retreat from London’s junior market. Three years ago, PwC, Deloitte, EY, and KPMG audited nearly half of the FTSE Alternative Investment Market (AIM) 100 index with 49 clients combined. But today, the market share has collapsed to 30 clients, according [...]