Accounting watchdog announces investigation into KPMG over HBOS June 27, 2016 The accountancy watchdog has launched an investigation into KPMG over its audit of HBOS. Specifically, the Financial Reporting Council (FRC) is looking into the conduct of KPMG Audit relating to its audit of HBOS for the year ended 31 December 2007. In 2008, HBOS collapsed and needed to be bailed out by Lloyds, shortly after the [...]
Brits flock to US dollar accounts in a bid to shield their money from wild swings in sterling following the Brexit vote June 27, 2016 NULL
Accounting watchdog announces investigation into PwC over BHS audit June 27, 2016 The watchdog for the accountancy industry has today announced it will launch an investigation into PwC over BHS. The Financial Reporting Council (FRC) said it will take a closer look at the professional services firm's audit of the retailer for the year ended 30 August 2014. A PwC spokesperson said: "We will co-operate fully with the FRC in its [...]
Business leaders call on government to hold out for best deal possible, as many warn that they’ll be freezing recruitment following Friday’s Brexit result June 27, 2016 Business leaders would rather hold out for the best Brexit deal possible than get it over and done with quickly, a study out today has found. According to research by the Institute of Directors, more than half (51 per cent) of the 1,092 members it surveyed after the referendum result was released prioritise getting a good deal [...]
Brexit vote gives defined benefit pensions yet another battering, as markets swing wildly after Leave decision is revealed June 26, 2016 The vote for Brexit may have driven another nail into the coffin of defined benefit (DB) pension schemes, after the markets went into meltdown on Friday. Figures from Hargreaves Lansdown show that around 33 per cent of UK scheme investments consist of shares, 25 per cent of which are UK shares, which will have come as [...]
BHS fiasco rumbles on as Goldman Sachs and The Pensions Regulator due to reappear in front of the committees next week June 26, 2016 The BHS saga starts a new chapter next week, with two more evidence hearings due to take place in parliament. On Tuesday afternoon, the Work and Pensions committee and Business, Innovation and Skills committee are set to hear from Alex Dellal, Allied Commercial Exporters, Paul Sutton, Lesley Titcomb, chief executive of The Pensions Regulator and Neville Kahn, managing partner, financial [...]
Pour another cup of coffee and make sure it’s strong: Lawyers brace themselves for a flood of client questions post-Brexit vote June 26, 2016 Lawyers are unlikely to be short of work for the foreseeable future, as clients raise concerns about what the result of last Thursday's vote means for them. The number of people registered for a call set up by magic circle outfit Allen & Overy to address questions surrounding the referendum result shot up from 500 to 1,700 [...]
