UK business output falls to lowest level since lockdown October 10, 2021 Business output has shrunk to its lowest level of growth since the reopening of the economy as staff shortages and supply chain disruptions battered productivity last month. The closely-watched BDO Output Index suggests a slowdown across both manufacturing and services, falling more than five index points month-on-month to 100.69, effectively indicating average trend growth just [...]
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 [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 15, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Falcon posts City veteran Joe Nally to board Falcon Oil & Gas has posted Cenkos co-founder Joe Nally as a new non-executive chairman to the board of the company with immediate effect. Nally, a City veteran, [...]
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 [...]
As accounting firms prep for busy period, non-Big Four players spot new opportunities May 26, 2021 The majority of 2020 was a slow year for the UK’s deals market, with mergers and acquisitions depressed by the Coronavirus pandemic and its subsequent lockdown restrictions. This trend, however, now seems to be in reverse with a number a big deal in the private sector, including Virgin Media and O2’s £31bn mega merger, and [...]
Has lockdown triggered a City brain-drain? May 20, 2021 The explosion in home-working due to lockdown is shifting the focus away from a London-centric view of careers, with regional firms benefiting from a growing desire to shun the commute. Lockdown is prompting a shift away from City jobs to opportunities at smaller, regional practices with talent-hungry boutique firms stretching to match Square Mile-level salary [...]
Three-quarters of new FRC panel members being ex-Big Four causes interest concerns May 5, 2021 The majority of individuals recently recruited to the FRC’s advisory panel have at some point worked for a Big Four firm, raising concerns about their objectivity when it comes to making recommendations that are in the public interest. The Financial Reporting Council (FRC) recently announced 19 new appointments to its advisory panel, a body established [...]
Audit sector ‘failing society and needs reform’ warns think tank April 21, 2021 The UK’s audit sector is “failing society” by coming up short when assessing firms’ finances and governance, leaving the door open to costly, Carillion-style business collapses, according to think tank IPPR. The think tank said there is an “expectation gap” between what audit currently assesses and what it needs to assess to fulfil the [...]
Mid-sized firms set for investment and hiring spree as UK exits lockdown April 5, 2021 Mid-sized firms set to splurge on investment and new hires as UK exits lockdown