Westminster committee backs du Plessis as new audit watchdog chair January 28, 2022 UK law makers have endorsed the appointment of former BT boss Jan du Plessis as the new chair of the UK's audit watchdog.
Chancellor on the brink? It’s not what you think January 26, 2022 Jason Meyers explores what January 3 2009 means to a decentralised world, and if there's a solution to keeping the Chancellor off the brink.
City Moves: Who’s switching jobs in the Square Mile this week? January 26, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. TheCityUK TheCityUK has appointed the founder and CEO of Aquis Exchange as the inaugural chair of the industry body’s new business council. Alasdair Haynes joins the council as one of many chief executives and chairs from around 35 [...]
Audit watchdog is ‘in poor state’, says FRC candidate for chair: ‘This is really not the way to run a regulator’ January 25, 2022 Sir Jan du Plessis, the government’s preferred candidate to head the Financial Reporting Council (FRC), has said the independent regulator is now in a “pretty poor state” due to the failures of its top level managers. Du Plessis, who has previously chaired some of Britain’s major companies including BT and Lloyds TSB, vowed to “address [...]
British Gas owner Centrica picks up customers from fallen firm Together Energy January 24, 2022 Centrica, owners of British Gas, has swooped in to rescue UK households from doomed supplier Together Energy, which ceased trading last week.
EU aims to boost gas supplies amid deepening energy crisis and Russia-Ukraine tensions January 23, 2022 The European Union is talking with partners as it looks to boost gas supplies amid a deepening energy crisis across the continent.
Former KPMG partner fined £150,000 for misleading regulator January 19, 2022 Britain’s accounting watchdog has fined former KPMG partner Stuart Smith £150,000, after he admitted misleading the regulator during a spot inspection. Smith and KPMG admitted misleading the UK’s Financial Reporting Council (FRC) during its inspection of an audit of data management firm Regenersis’ financial statements. Smith will also be banned from the Institute of Chartered [...]
KPMG slapped with £3m fine over Conviviality audit failures January 19, 2022 Accounting giant KPMG and a senior audit partner have been fined over £3m for failings related to an audit of collapsed firm Conviviality.
Ex-KPMG partner blames junior colleagues for fabricated documents January 18, 2022 A former partner at KPMG, who led the audit of Carillion, has blamed junior colleagues for fabricating documents given to the Financial Reporting Council (FRC), during an industry tribunal into claims that papers were forged to deceive the industry regulator. Former KPMG partner, Peter Meehan, who left the KPMG on “agreement” in January 2021 after [...]
‘PwC has questions to answers’: analyst firm warned years ago about audit failures at Babcock January 17, 2022 Audit giant PwC ignored warnings over irregularities in the accounts of British defence contractor Babcock International for years, even after they were flagged by analysts, according to sources speaking to City AM. In an email to this paper, analyst firm Boatman Capital Research said: “The Boatman and others were warning about accounting issues at Babcock from 2018 [...]