Audit reforms: IoD call for caution in plans to break Big Four dominance July 8, 2021 The government should approach its plans for an audit and corporate governance reform with greater caution, said the Institute of Directors (IoD). A government white paper aimed at breaking up the concentration of the Big Four auditing firms – Deloitte, PwC, KPMG and EY has stirred criticism from the business group, who said that the [...]
Big Four lobbying may dilute Government’s audit reform, says ex-accounting watchdog June 14, 2021 Big Four lobbying will dilute Government's audit reform, says ex-accounting watchdog
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 [...]
City Moves: Who’s switching jobs in the Square Mile this week? April 28, 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. Cazoo bolsters board after $7bn NYSE listing After its $7bn New York Stock Exchange listing through its AJAX merger, UK online car retailer Cazoo has confirmed that a new non-executive director [...]
LinkedIn: Barclays, Tesco and NatWest ranked top three UK workplaces April 28, 2021 Barclays has been crowned the best company to work for, followed by Tesco and NatWest, according to LinkedIn’s list of the 25 top workplaces in the UK. The list ranks workplaces on their capacity to build and sustain a long-term career and have been compiled based on actions taken by the platform’s 30m UK members [...]
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 [...]
Watchdog investigating Deloitte audit of Lookers after £19m vanishes from books March 12, 2021 Britain’s accounting watchdog has opened an investigation into audits conducted by Deloitte of car dealership operator Lookers. The investigation will look at financial statements for the years ended 31 December 2017 and 2018, the Financial Reporting Council (FRC) said in a statement. Deloitte said it was taking the investigation seriously and was fully cooperating with [...]
Deloitte diversity chief ‘facing internal investigation over bullying claims’ March 5, 2021 Deloitte’s deputy chief executive and diversity champion Dimple Agarwal is facing an internal probe over allegations of bullying. Agarwal, head of “people and purpose” at the Big Four auditor, is facing complaints from staff over inappropriate working practices such as communicating aggressively and making employees attend extremely early meetings, the Telegraph first reported. Having joined [...]