KPMG halts referrals to its former restructuring unit in bid to recover from Silentnight scandal December 20, 2021 KPMG will no longer refer any work to its former insolvency unit, Interpath Advisory, in a bid to mend its reputation after the scandal over the sale of bed manufacturer Silentnight to a private equity firm, according to reports. The Big Four firm was fined £13m by the UK accounting watchdog earlier this year for [...]
Businesses beware as 70 per cent Brits aren’t afraid of taking legal action December 16, 2021 Companies that break the law could find themselves facing more lawsuits from the great British public, as over 70 per cent said they would join a class action – many even against their own employer – according to a new study published today. The study, which polled members of the public on their perceptions of [...]
Government blocks reappointment of Channel 4 board members including The King’s Speech director Tom Hooper December 14, 2021 Academy Award-winning director Tom Hooper, and the board’s only person from a Black, Asian or Minority Ethnic background, Althea Efunshile, have been blocked by the UK government from re-appointment to the Channel 4 board this evening.
Gas prices rise amid escalating Russia tensions and Nord Stream 2 uncertainty December 13, 2021 Gas prices have surged amid growing tensions over Russian troops at the Ukrainian border and increased Nord Stream 2 pipeline uncertainty.
Greensill dished out a taxpayer backed Covid loan to neighbour December 13, 2021 Collapsed lender Greensill Capital gave a government backed Covid loan to the neighbour of founder Lex Greensill. Greensill is already under investigation for allegedly abusing its position while in charge of lending money under the Coronavirus Business Loan Interruption Scheme to dish out £400m to businesses linked to Sanjeev Gupta. It has now emerged that [...]
Housing department urged to draw up clear strategy on tackling rogue landlords December 10, 2021 The way private renting is regulated is not up to scratch as tenants struggle to push back against landlords when their homes are unsafe. The current system relies on tenants being able to enforce their own rights but there are various financial barriers making this hard, according to a new report. The National Audit Office [...]
Partner pay of £760m puts BDO ahead of Big Four rivals EY and KPMG as challenger firm sees revenue surge December 2, 2021 Partners at BDO saw their profits increase to over three quarters of a million pounds, putting them ahead of their peers at rival firms EY and KPMG. Profit per equity partner before tax increased to £760,000 at BDO following a 14 per cent drop last year, while EY partners were paid an average of £749,000 [...]
KPMG in danger of being banned from bidding for government contracts December 1, 2021 KPMG have been threatened by the government with a ban on bidding for public contracts if there are any more scandals at the Big Four consulting firm, according to reports. The Cabinet Office issued its warning in a letter to KPMG, according to the Financial Times, which first reported the news. The ominous letter, which [...]
Regulator calls out ‘poor’ board succession planning at FTSE 350 companies November 25, 2021 The Financial Reporting Council (FRC) have called out listed companies for “poor reporting” on succession planning, board appointments and diversity, in a review of corporate governance reporting. The FRC said companies provided “minimal information” to show how diversity and inclusion policies and objectives link to their business strategy. The regulator said that while lots of companies [...]
Pandemic affects retirement plans for over half the nation, says Aviva November 25, 2021 Covid-19 has affected the retirement plans of 54 per cent of UK adults, with people nearing mid-life bearing the brunt of anxiety, according to new research.