BDO becomes largest auditor of listed UK firms October 13, 2020 Challenger firm BDO now audits the highest number of listed UK companies as attempts to reform the sector sees companies move away from the Big Four. BDO, the UK’s fifth-largest accounting firm by revenue, gained 36 listed clients in the 12 months to October, according to Adviser Rankings, which collects auditor data. It now audits [...]
The answer to Britain’s housing crisis is more houses – not risky mortgages October 11, 2020 Housing experts were left scratching their heads this week after Prime Minister Boris Johnson announced his flagship policy to get young people on the housing ladder: bigger mortgages. Johnson plans to turn “generation rent” into “generation buy” by offering long-term, fixed-rate mortgages of up to 95 per cent of the value of the home. He [...]
Get ahead with a NED? How non-executive directors have evolved October 9, 2020 ‘You cannot rely on others to seek you out – you must put in a concerted effort to obtaining a directorship. So network, wear out the shoe leather and be prepared to drink a lot of coffee’: so advises a guide for senior professionals seeking to become a non-executive director (NED). Spencer Stuart, the executive search and [...]
Liverpool mayor rejects plans to shut pubs and restaurants across north of England October 8, 2020 The mayor of Liverpool has come out against potential plans for any further restrictions across the north of England, such as pub and restaurant closures. Steve Rotheram called it “deeply disappointing” that new Covid-19 restrictions could be in place from Monday. “At the moment we have a patchwork of local measures across the country and [...]
On the brink: SMEs cut off from bounce back loans as banks close to new customers October 6, 2020 Small businesses are being shut out of potentially life-saving bounce back loans (BBLs) because lenders are turning down new customers, despite the funds being fully guaranteed by the government. City A.M. has spoken to a number of businesses who have had applications to set up new business accounts with lenders rejected, often without explanation. Many [...]
FRC delays appointment of Keith Skeoch as interim chair October 1, 2020 The appointment of City veteran Keith Skeoch as chair of the audit watchdog has reportedly been delayed despite having been signed off by the business secretary. The plan to name Skeoch as interim chair of the Financial Reporting Council has been delayed due to a failure in Whitehall to rubber-stamp the appointment, according to Sky [...]
UK watchdog to accuse KPMG of breaches in Carillion audit September 21, 2020 The UK’s accountancy watchdog has said it has delivered an initial report of KPMG’s audit of collapsed outsourcer Carillion, indicating it found a number of breaches made by the firm. After a preliminary investigation, the Financial Reporting Council would either close the enforcement case or, if breaches have been found, deliver an initial investigation report. [...]
John Lewis mulls cutting Oxford Street flagship store space by 40 per cent September 16, 2020 John Lewis is reportedly preparing to slash the size of its flagship Oxford Street department store due to a steep drop in West End footfall during the coronavirus pandemic. The retailer has applied to Westminster council to allow it to reduce its trading space by up to 40 per cent, while the third, fourth and [...]
Octopus Renewables Infrastructure Trust posts ‘very strong’ maiden returns September 15, 2020 Green energy investment fund Octopus Renewables Infrastructure Trust (ORIT) today reported it had achieved “very strong” shareholder returns in its maiden set of results. The fund, which first listed in December 2019, confirmed it was pursuing its full £3.8bn pipeline of wind and solar assets despite the impact of the coronavirus. The figures By the [...]
WIBF launches UK’s first cross-sector gender research programme in financial services September 11, 2020 We are delighted to announce the launch of the UK’s first cross-sector research programme, Accelerating Change Together (ACT) with the aim of driving policy change to better support and retain women working in financial services. The research will harness the collective input from banking, asset management, professional services, Fintech and insurance, to address the pressing [...]