Regulator hits KPMG and partner with near £2m in sanctions over M&C Saatchi scandal March 4, 2024 The accountancy regulator has fined KPMG and a partner over its audit of advertising agency M&C Saatchi. Back in 2019, the Big Four firm resigned as the ad giant’s auditor amid an accounting scandal which saw the company set aside £6.4m after it had spotted an error in its accounts. The business had also overstated [...]
Former Financial Reporting Council employee ordered to pay regulator after employment case dismissed February 28, 2024 Mr R Hartigan took the FRC to the Employment Tribunal (ET) last year after he was dismissed in September 2022 because he made a single protected disclosure.
Audit watchdog set to shake-up stewardship code to focus on ‘growth’ February 27, 2024 The audit watchdog is set to shake up the so-called stewardship code governing the UK’s top investors as pressure mounts on regulators to strip back red tape and support “growth and the UK’s competitiveness”.
Audit fees for London-listed firms skyrocketed by 75 per cent since 2017 February 26, 2024 Over the last five years there has been a significant increase in the fees paid by London-listed companies to auditing firms, due to the increase in both financial reporting requirements and auditing standards. According to a report by the Quoted Companies Alliance, its sample of 220 listed companies across the main market, AIM and Aquis, [...]
Made Tech: Public sector data firm gives mixed picture for first half February 26, 2024 According to its website, Made Tech works with government departments including the ministry of justice, department for education, and levelling up. It also works with councils like Essex and Hackney, the Met Office and NHS.
Sir Jon Thompson: Ex-FRC and HS2 boss among ‘new high-calibre directors’ at Frasers February 26, 2024 The appointments come as Frasers has been embarking on a series of acquisitions and share purchases, with the most recent being Hornby last week.
Politicians promising growth must not forget about financial services February 26, 2024 In a recession, the UK should remember its greatest strength: financial services, argues Chris Hayward
US and EU pile new sanctions on Russia February 24, 2024 The United States and the European Union have heaped new sanctions on Russia on the eve of the second anniversary of its invasion of Ukraine and in retaliation for the death of noted Kremlin critic Alexei Navalny last week in an Arctic penal colony. The US government imposed roughly 600 new sanctions on Russia and [...]
Mini-bond trial: London Capital & Finance administrators legal battle against former executives commences February 19, 2024 The administrators of London Capital and Finance (LCF) civil legal proceedings kick off today against the former executives of the company, including its former CEO Michael ‘Andy’ Thomson. The investment company collapsed back in 2019 after an intervention by the Financial Conduct Authority (FCA) following a discovery that LCF was marketing unregulated mini-bonds along with [...]
Badenoch under pressure to revive sweeping audit reform February 12, 2024 Kemi Badenoch is under pressure from a top City group to revive a sweeping shake-up of audit rules after the government shelved many of its reform plans last year, City A.M. can reveal.