Union to ballot 150,000 civil servants on plans for public sector strike September 26, 2022 The public sector workers’ union is set to ballot more than 150,000 civil servants on plans to strike over pay and working conditions. The Public and Commercial Services Union (PCS) said it is urging its members in 214 government departments to vote in favour of taking industrial action, after the UK government set out plans [...]
Sanjeev Gupta’s auditor King & King quit over lack of evidence September 21, 2022 The tiny firm that audits the accounts of Sanjeev Gupta’s steelmaking empire has said it resigned from auditing four of the magnate’s companies due to being unable to complete its audits because a “lack of sufficient information.” In a letter filed to Companies House, King & King said it had resigned as auditor four of [...]
EY posts record revenues of £40bn as consulting sales surge September 21, 2022 EY today posted record revenues of $45.4bn (£40bn), on the back of its strongest growth in decades, as partners in the Big Four accounting firm prepare to vote on plans for a global split in what could be the biggest shakeup to audit sector in years. The accountancy firm saw its combined global revenues [...]
Auditor to Sanjeev Gupta’s metals empires cuts ties to at least two key firms September 15, 2022 The little-known firm responsible for audits the accounts of Sanjeev Gupta’s metals empire has resigned from at least two of the embattled magnate’s core firms, following the launch of a probe in May. Two-office accounting firm King & King has resigned as auditor from Liberty Specialty Steels and Liberty Steel Dalzell, Companies House filings show. [...]
UK’s accounting sector on course for record year as firms capitalise on volatility September 12, 2022 The UK’s accounting sector’s turnovers continued to grow over July as the industry bucked trends towards plummeting revenues in the wider services sector. The accounting sector’s turnovers increased 0.69 per cent from June to July, to heights of £3.54bn, figures from the Office for National Statistics (ONS) show. The growth saw the sector’s revenues [...]
EY’s Greater China business opts-out of global split September 11, 2022 EY’s Greater China practice, which covers mainland China, Taiwan, Hong Kong, Macau, and Mongolia, has confirmed it will not be taking part in the Big Four firm’s global split. EY’s China segment said it is “unable to participate” in Big Four accounting firm’s ground-breaking plans to separate the firm’s audit business from its consulting arm. [...]
EY to let partners vote on plans for global split September 8, 2022 EY is to begin letting its partners vote on plans to split its consultancy arm from its audit business by the end of the year, with a view to reaching a final decision by early 2023. The Big Four accountancy firm has decided to move forward with plans to separate EY into “two distinct, multidisciplinary [...]
Audit watchdog’s Birmingham staff relocation plans still to be decided September 7, 2022 Ministers have not yet come to a decision as to whether staff at the Financial Reporting Council (FRC) will be asked to relocate to Birmingham following the launch of the UK’s new audit watchdog, City A.M. understands. Staff were told that Birmingham had been picked as the home of the UK’s new Audit, Reporting Governance [...]
Audit watchdog’s move to Birmingham could spark staff exodus, industry experts warn September 6, 2022 The government’s decision to pick Birmingham as the future home for the UK’s new audit watchdog could see an exodus of talent from the regulator it is set to replace, industry experts have warned. City A.M. reported yesterday that ministers had picked the UK’s second largest city, Birmingham, as the home of the soon-to-be-launched Audit, [...]
Birmingham picked as home of UK’s new audit watchdog September 5, 2022 MINISTERS have chosen Birmingham as the home of the UK’s new audit watchdog, in a move that risks an internal backlash at the supervisory body it is set to replace. City A.M. understands the soon-to-be launched Audit, Reporting and Governance Authority (ARGA) watchdog will be headquartered in Britain’s second largest city, Birmingham. The new regulator [...]