Markets hold the key to climate solutions October 22, 2019 One of the odder elements of our climate debate is the unwillingness of any political party to champion the green progress Britain has made recently. After all, last year more than half of the UK’s energy came from nuclear or renewables — a remarkable achievement. Yet politicians, for once, seem strangely reticent to shout about [...]
Audit watchdog calls on firms to improve reporting on climate change issues October 22, 2019 Businesses are falling short of investors’ expectations for clearer reporting on climate-related issues, according to a report published today by the audit watchdog. A report from the Financial Reporting Council (FRC) said that “while reporting on climate change is an evolving practice, expectations are changing rapidly”. Read more: Eco-friendly product sales surge on climate change [...]
Accountancy sector lagging behind business on diversity says watchdog October 21, 2019 The accountancy and audit profession is lagging behind business when it comes to the diversity of senior management, new research showed today. A report by audit watchdog the Financial Reporting Council (FRC) found a massive drop off between women at manager level and partner level at accountancy firms. Read more: Auditors slapped with rising fines [...]
Sir John Kingman says lack of government action putting audit reform at risk October 15, 2019 The author of a report into the future of the audit regulator warned today that lack of government action risks letting the watchdog “drift on, half-reformed”. Former mandarin Sir John Kingman undertook the report into the Financial Reporting Council (FRC) following the failure of outsourcer Carillion in 2018. Kingman expressed his concerns in a letter [...]
Auditors slapped with rising fines after turbulent year October 14, 2019 Britain’s beancounters faced rising fines over the last year, as the industry’s watchdog upped its penalties following a series of major accountancy scandals. The Financial Reporting Council (FRC) fined audit firms roughly £24.3m in the year to the end of September, rising 44 per cent on the previous year, according to new Thomson Reuters research. [...]
BDO profits jump as partners enjoy pay rise October 7, 2019 BDO has reported a double-digit rise in profit and revenue for the last 12 months, as the accountancy giant ramped up the pressure on its larger under-fire Big Four rivals The beancounter enjoyed its seventh consecutive year of growth after profits rose 26 per cent to £134m and revenues jumped 25 per cent to £578m. [...]
Sun, sea and skint Spaniards: Spain plans up €300m tourism rescue package after Thomas Cook collapse October 3, 2019 Spain is preparing a $300m rescue package for its tourism industry, after the collapse of Thomas Cook is said to have left bars deserted and beaches empty at its holiday hotspots. The country’s tourism minister said the cash would be split across 13 different measures, including a credit line for companies struggling to cope. Read [...]
Thomas Cook’s Belgian operations announce bankruptcy October 1, 2019 Thomas Cook’s operations in Belgium have officially been declared bankrupt, putting 500 jobs at risk. A commercial court today ruled that Thomas Cook Retail Belgium – the largest Belgian subsidiary of the collapsed travel giant – had collapsed into administration. Read more: FRC watchdog probes EY audit of Thomas Cook accounts The retail arm had [...]
Ryanair boss Michael O’Leary says package holiday market ‘is over,’ weeks after Thomas Cook collapse October 1, 2019 Ryanair’s chief executive has taken a swipe at the package holiday industry, weeks after the firm that effectively founded it, Thomas Cook, went bust. Michael O’Leary, the budget airliner’s longstanding and often outspoken boss, said the market “is screwed, it’s over”. Read more: FRC watchdog probes EY audit of Thomas Cook accounts Ryanair cut its [...]
FRC watchdog probes EY audit of Thomas Cook accounts October 1, 2019 The UK’s financial watchdog has launched an investigation into EY’s audit of Thomas Cook’s last set of financial results. The Financial Reporting Council (FRC) has started its probe into EY’s audit of the collapsed tour operator’s financial year ending 30 September 2018. Read more: DEBATE: Is Thomas Cook’s boss right to defend his high pay? [...]