Carillion: Five years on, MPs and industry leaders demand audit reform to ensure scandal is not repeated January 18, 2023 On the fifth anniversary of the collapse of outsourcer Carillion, MPs and audit sector leaders have united in calling on the UK government to push forwards with plans to overhaul the country’s audit sector. MPs said a shake-up of the country’s accounting industry is needed imminently to ensure that audit failures, such as the one [...]
Bitcoin enjoys 12 consecutive days of positive growth for only second time in crypto history January 16, 2023 The price of Bitcoin this morning sits at $20,815, marking a 20.65% increase in the last week.
More strikes: 100,000 civil servants WILL walk out next month after talks with government dubbed ‘total farce’ January 13, 2023 A strike by 100,000 civil servants is to go ahead next month after talks with the Government aimed at resolving a bitter dispute over pay, jobs and conditions were dubbed a “total farce”. Cabinet Office Minister Jeremy Quin met with union leaders to discuss growing industrial unrest after weeks of stoppages across the country, including [...]
Awards 2023 January 4, 2023 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
4 Reasons You Should Look For A New Job In 2023 December 26, 2022 It’s safe to say the job for life model of yore that your parents probably aspired to is about as relevant today as ping-pong and pool tables in an office where most of the workforce are doing their daily duties remotely. Redundant perks aside, there are lots of reasons why the start of the new [...]
Deloitte fined £1.25m over failings in building supplies firm’s audit December 22, 2022 The UK’s accounting watchdog today fined Deloitte and one of its senior auditors over failures in auditing the accounts of building products manufacturer SIG plc. Britain’s Financial Reporting Council (FRC) fined the Big Four accountancy firm £1.25m, discounted to £906,250 for admissions and early disposal, over its failure to apply sufficient professional scepticism in auditing [...]
Tech wins: UK sector retains No1 spot in Europe December 21, 2022 Despite a rough year on all financial fronts, UK’s tech sector retained the top spot in Europe. The country’s tech sector showed resilience with the fast-growing UK tech companies raising funds at near-record levels (£24b),which was substantially more than France (£11.8 b) and Germany (£9.1 b) combined. UK’s tech sector has raised nearly £100b over [...]
UK’s audit watchdog calls on top accounting firms to boost measures against exam cheating December 21, 2022 The UK’s accounting watchdog has called on Britain’s seven largest auditors to improve the measures they have in place to prevent cheating on exams, following a series of international cheating scandals involving the world’s biggest audit firms. In a letter seen by City A.M., the UK’s Financial Reporting Council (FRC) called on the country’s top [...]
Fees paid to FTSE 100’s auditors hit record sums of more than £1bn December 20, 2022 The UK’s top 100 listed companies paid more than £1bn to their auditors for the first time in 2021/22, following a steady uptick in audit fees linked to a tougher stance from the UK’s accounting regulator. FTSE 100 companies paid a record £1.01bn to their auditors for both audit and non-audit services, in the year [...]
KPMG chief snubs global split as consulting arm drives growth in revenues December 13, 2022 The global head of KPMG today slapped down suggestions it might follow EY in pursuing a global split, in claiming the accounting firm’s strong financial performance “validates” its current approach. KPMG chief executive Bill Thomas rejected plans for a split in claiming the Big Four firm’s results “validates an unwavering commitment to deliver services… through [...]