Wilko shakes up rent payments as it eyes cashflow ahead of Christmas September 11, 2022 High street giant Wilko is shaking up its rent payments schedule in a bid to conserve cash in the run up to Christmas. The garden and home retailer told landlords that it would now unilaterally pay its quarterly rent bill in monthly instalments to manage the firm’s cashflow: heralding a difficult time moving forward for [...]
Not having it: Revolut hits back at cost-cutting claims September 8, 2022 Revolut has hit back at claims it is cost-cutting and labelled them “misleading and incorrect” today after reports it was in the midst of a major review of its cost base.
J.P. Morgan distances itself from Boris Johnson speaking deal rumours September 7, 2022 J.P. Morgan has not offered Boris Johnson a lucrative post-premiership speaking deal, despite rumours to the contrary. It was reported in The Telegraph on Monday that Johnson had been offered £2m to give six speeches at J.P. Morgan events. However, sources at the US investment bank have told City A.M. that Johnson has not been courted for [...]
Audit watchdog’s Birmingham staff relocation plans still to be decided September 7, 2022 Ministers have not yet come to a decision as to whether staff at the Financial Reporting Council (FRC) will be asked to relocate to Birmingham following the launch of the UK’s new audit watchdog, City A.M. understands. Staff were told that Birmingham had been picked as the home of the UK’s new Audit, Reporting Governance [...]
Audit watchdog’s move to Birmingham could spark staff exodus, industry experts warn September 6, 2022 The government’s decision to pick Birmingham as the future home for the UK’s new audit watchdog could see an exodus of talent from the regulator it is set to replace, industry experts have warned. City A.M. reported yesterday that ministers had picked the UK’s second largest city, Birmingham, as the home of the soon-to-be-launched Audit, [...]
Birmingham picked as home of UK’s new audit watchdog September 5, 2022 MINISTERS have chosen Birmingham as the home of the UK’s new audit watchdog, in a move that risks an internal backlash at the supervisory body it is set to replace. City A.M. understands the soon-to-be launched Audit, Reporting and Governance Authority (ARGA) watchdog will be headquartered in Britain’s second largest city, Birmingham. The new regulator [...]
Amigo Loans cuts ties with KPMG following ‘competitive tender’ September 5, 2022 Amigo Loans has cut ties with KPMG in appointing mid-tier accountancy firm MHA MacIntyre Hudson as its new auditor. The subprime lender said in a statement it had appointed MHA MacIntyre Hudson as its new auditor after the accounting firm won a competitive tender for the contract to audit Amigo’s accounts. KPMG said in a [...]
Revolut under pressure to improve internal controls following audit watchdog’s report September 5, 2022 Revolut is facing pressure from its auditor, BDO, to improve its internal processes, after the UK’s audit watchdog raised concerns about BDO’s audit of the London fintech company’s accounts. The fast-growing fintech firm is facing scrutiny from BDO, following a report from the UK Financial Reporting Council’s (FRC’s) in July that warned BDO’s audit of [...]
BDO bolsters audit practice with 600 new trainees following watchdog’s damning criticism September 5, 2022 Accountancy firm BDO has hired 600 new trainees, including 400 to its audit practice, after the UK’s accountancy watchdog slammed the challenger firm over the “unacceptable” quality of its audits. The world’s fifth largest accounting firm will take on board 600 school leavers and university graduates at its offices across the country, with almost half [...]
KPMG shakes up UK executive committee in line with £300m growth strategy September 1, 2022 KPMG today set out plans to shake up its UK executive committee in line with efforts to bolster high-growth areas of its business by investing £300m over the next three years. The executive reshuffle will see KPMG’s chief financial officer Chris Hearld take the reins from current chief operating officer Tim Jones from 1 October. [...]