What the other papers say this morning – 21 August 2013 August 20, 2013 FINANCIAL TIMES Investment bank hiring uptick Investment banks including Nomura, Citigroup and Bank of America have started hiring dealmakers and traders in Europe in a sign that recruitment is picking up following a two-year cull that saw thousands of bankers lose their jobs. Recruiters say they are at their busiest since 2010 as banks add [...]
What the other papers say this morning – 16 August 2013 August 15, 2013 FINANCIAL TIMES UK state-owned bank builds brand The UK’s state-owned “zombie bank” responsible for winding down Northern Rock’s mortgages is attempting to become a brand in its own right as it also prepares to take over administration of the Help to Buy scheme. UK Asset Resolution has redesigned the websites and literature of nationalised banks [...]
Boss of BDO says bigger is better for the accountant August 11, 2013 Simon Michaels, managing partner of the UK’s sixth largest professional services firm, thinks it is all to play for BY THE end of July, the builders had almost finished with BDO’s London headquarters. The glass-fronted Baker Street building, once the home of Marks & Spencer’s main office, has been revamped to make space for [...]
Second probe for Grant Thornton August 7, 2013 The accounting watchdog has launched its second investigation in as many days into Grant Thornton. The Financial Reporting Council (FRC) said it was investigating how Grant Thornton audited and accounted for interest rate swap arrangements in Manchester Building Society’s accounts, prompting a financial adjustment last year. The FRC on Tuesday announced an investigation into the [...]
Grant Thornton probed over audit August 6, 2013 The Financial Reporting Council has launched an investigation into accountancy firm Grant Thornton’s audit work for Aim-listed soft drinks company Nichols over the last two years. The watchdog said it is examining whether GT was sufficiently independent when conducting the audits but gave no more details.
Our retail industry has a bright future – but it must adapt to survive August 6, 2013 A ROW of boarded up shops is not how we want our high street to look. But since the beginning of the recession, a high number of retail casualties have been claimed – great stalwarts of the high street like Woolworths and HMV among them. Despite flickering hopes of economic recovery, it is unlikely that [...]
Mazars faces accounting tribunal over First Quench pension advice August 5, 2013 THE ACCOUNTANCY watchdog is investigating Mazars and the managing partner of its London office over pension advice given to the now-defunct drinks firm First Quench Retailing. The Financial Reporting Council has made a formal complaint about Mazars and partner Richard Karmel, claiming their conduct “fell significantly short of the standards reasonably to be expected”. The [...]
BAE up on Saudi hope August 1, 2013 SHARES in BAE Systems yesterday climbed to near the top of the FTSE 100, as the defence firm shrugged off a six per cent decrease in half-year earnings by signalling that it is close to sealing a long-awaited Saudi deal. The firm has been embroiled in pricing negotiations with Saudi Arabia over the purchase of [...]
Regulator closes investigation into KPMG auditing of BAE August 1, 2013 The investigation into the conduct of KPMG as an auditor of British Aerospace/BAE is over. Launched in 2010, the Accountancy and Actuarial Discipline Board (AADB) was investigating the audits and professional services adviced provided during the period 1997 to 2007. Subsequent investigations have shown that proper assessment of KPMG’s conduct would require consideration of work [...]
Deloitte mulls appeal as tribunal confirms MG Rover shortcomings July 29, 2013 A TRIBUNAL ruled yesterday that Deloitte fell short of ethical standards when advising MG Rover and four of its directors ahead of the car company’s collapse in 2005. Deloitte lost its appeal against the Financial Reporting Council’s ruling and is facing an unlimited fine, to be set out as early as today, as well as [...]