Tottenham and Ajax’s Champions League success serves as a reminder that there is more to football than money April 29, 2019 It is the semi-final that no one saw coming. Two teams with limited financial resources who were supposed to struggle to make it out of their Champions League group. Instead, Tottenham and Ajax have claimed some of Europe's biggest scalps on their path to a final-four clash that will see two of the competition's surprise [...]
Ferrexpo delayed probe into charity partner, claims former auditor Deloitte April 29, 2019 Deloitte said this morning it repeatedly asked Ferrexpo to open an investigation into its corporate social responsibility partner before resigning as the miner’s auditor last week. In a letter to the company’s board, Deloitte said Ferrexpo has delayed the investigation despite three requests from the auditing giant starting in October. Read more: Shares in miner [...]
Digital publishing revenues rise as video and display formats drive growth April 23, 2019 Digital publishing revenues rose almost seven per cent last year as publishers shift their focus towards video formats. Figures from the Association for Online Publishing (AOP) and Deloitte reveal UK revenues rose 6.8 per cent to £511.5m in 2018. Read more: Google hands out €500,000 for local publishers’ project The growth was driven largely by [...]
Business lobby groups slam competition watchdog’s calls for radical audit reform April 18, 2019 Business lobby group the CBI said reforms to the audit sector proposed today by the competition watchdog could “undermine confidence in corporate Britain”. The Competition and Markets Authority (CMA) today called for the Big Four accountancy firm’s audit arms to be split from their non-audit arms with separate profit pool and management in a major [...]
US and UK M&A deals outpace Europe April 17, 2019 Merger and acquisition (M&A) deals in the UK and US are outpacing the rest of Europe, with activity remaining strong despite a global downturn. Deal volumes reduced by 20 per cent in Europe last year, but only dropped by six per cent in the UK and by 11 per cent in the US. Read more: European [...]
It’s time to write the next chapter in the City’s story of technological innovation April 15, 2019 When I travel across the globe, there is an issue I get asked about time and time again: what is it about London that makes it such a successful global financial hub? And what is it about the UK that makes us stand out from the crowd? A key part of the answer is innovation. [...]
Brexit impasse sends UK business confidence plummeting, new surveys show April 15, 2019 The political crisis surrounding Brexit has sapped confidence from some of the UK's biggest and smallest companies alike, as crunch talks between Labour and the Conservatives reach a “delicate stage” this week. Read more: MPs could be forced to choose a Brexit option if talks with Labour fail More than eight in 10 finance chiefs [...]
Major companies could be exempt from joint audit rules in competition watchdog report April 14, 2019 The UK’s competition watchdog reportedly could exclude some major companies from a new rule that would require many business to appoint joint auditors. Sky News reported that the Competition and Markets Authority (CMA) is set to publish its long awaited report into the audit sector this week. According to the report, the CMA has been [...]
KPMG examining audit spin-off in wake of damning report from MPs April 8, 2019 Big Four accounting firm KPMG is reportedly planning an overhaul of its UK business in the wake of political pressure and a wave of scandals. KPMG could split its UK audit practice from its wider UK business, The Times reported. Read more: MPs call for full breakup of audit’s Big Four in wake of scandals [...]
Professional services firm BDO plots out break-up plan April 7, 2019 Accountancy and professional services firm BDO is plotting out how it will carve off its auditing arm from the rest of its UK business, following a withering report from MPs on the embattled sector. BDO's head of audit Scott Knight said the firm had run through a range of scenarios in response to the report from the [...]