A summer to forget: KPMG reputation dealt another blow after admitting to compliance report misconduct September 19, 2018 Scandal-hit KPMG has admitted to misconduct over compliance reports made for a unit of the Bank of New York (BNY) Mellon Group in another fresh embarrassment for one of the Big Four accountancy firms. The UK’s accountancy watchdog said today that KPMG and one of its partners Richard Hinton accepted they had fallen short of standards [...]
PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]
EY boss hits back at calls to break up Big Four September 13, 2018 The global chief executive of EY has hit back at criticism of the Big Four financial services firms, which have been slammed for the lack of competition in the audit market following high-profile corporate collapses. The company, which today announced boosted global revenue of $34.8bn in the financial year to the end of June, came under [...]
Deloitte UK’s Young Banker of the Year Awards 2015 nominees: They’re bankers, but not as you know them… August 27, 2015 Meet Deloitte UK's Young Banker of the Year Awards' nominees In recent years, identifying oneself as a banker has been something of a social faux pas. But are things about to change? As the summer break comes to an end, financial advisers Deloitte are kicking off the new school term with their Young [...]
Plenty of profit for UK partners after Deloitte reports strong earnings August 23, 2015 Deloitte UK partners received bumper payouts this year after high business confidence led to a robust company performance. The professional services firm’s revenue hit £2.71bn in the 12 months ending 31 May, up 6.4 per cent on the year before, it said this morning. Consultancy revenues led the way with a rise of 10.5 per [...]
Deloitte promotes more female partners in drive for equality May 31, 2015 Big four accountancy firm Deloitte promoted 22 women to the position of partner today, in its biggest ever round of appointments. The promotion of 75 new partners also includes 23 outside London as the business expands its reach outside the capital. And it announced a “return to work” scheme designed to help women who have [...]
Tesco splits with auditor PwC after 32 years choosing Deloitte for turnaround May 11, 2015 Tesco has split with PwC, ending a 32-year relationship with the accounting firm following the worst year in the supermarket's near-century history. A Tesco spokesperson said: “We have issued an invitation to tender for the appointment of an auditor. Taking into account the term for which PWC has served as auditor, we have agreed with [...]
General Election 2015: Deloitte chief executive David Sproul wants a pro-business leader who will invest in infrastructure May 6, 2015 Election countdown: 1 day to go Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. David Sproul, senior partner and chief executive, Deloitte UK Business has led the recovery in recent years, but this cannot be [...]
Deloitte fine over MG Rover case reduced to £3m after appeal tribunal April 13, 2015 Deloitte has been fined £3m by a City watchdog over failures in the lead-up to the collapse of MG Rover a decade ago. The penalty is a significant reduction on an initial fine imposed last year, following an appeal by Deloitte and former partner at the firm Maghsoud Einollahi, the advisers who worked on MG Rover's sale [...]
Deloitte names Cathy Engelbert as first female chief executive February 9, 2015 Cathy Engelbert has been made the new chief executive of Deloitte LLP – Deloitte’s US branch. From 11 March, Engelbert will be the first female chief executive of a major US accounting firm, where she will take the helm for four years. She joined Deloitte LLP in 1986 and currently heads up the firm’s auditing division. She [...]