Exclusive: City Hall and government urged to tackle capital’s ‘jobs crisis’ October 27, 2020 The government and City Hall must work together to tackle the jobs crisis that is set to see more than 130,000 Londoners fall into long-term unemployment in 2020/21, a new report shared exclusively with City A.M. has argued. The Learning and Work Institute’s (LWI) report said Londoners had been hit particularly hard by the coronavirus [...]
Barcelona’s strategy to attract foreign tech investment, second best in Europe October 26, 2020 The number of foreign tech companies in Catalonia grew by 21% in 2020 reaching 1,369 The fDi Intelligence division of the ‘Financial Times’ group together with The Next Web – one of the leading European media and companies in the field of technology and startups – recognise Barcelona and Catalonia’s strategy to attract foreign technological [...]
KPMG considering sale of UK restructuring business October 22, 2020 KPMG is considering selling its UK restructuring business as the accounting giant looks to shore up its finances after delaying its annual results amid the disruption caused by Covid-19. The firm is exploring options for the division including a possible sale as the Big Four accountants prepare for extensive reforms of their business to comply [...]
MPs demand update on audit reform progress from business secretary October 21, 2020 An influential committee of MPs has written to business secretary Alok Sharma to demand an update on the government’s progress implementing audit reforms following a series of high-profile accounting scandals. In a letter dated yesterday, Business Energy and Industrial Strategy (BEIS) committee chair Darren Jones asked Sharma to outline which reforms recommended by two recent [...]
Khan accuses PM of ‘blatant lie’ in tit-for-tat over TfL bailout October 21, 2020 Sadiq Khan has accused the government of “lying” and playing “party political games” during Transport for London (TfL) bailout talks, sparking a tit-for-tat with the Prime Minister over the future of the ailing transport network. The London mayor told TfL’s board meeting today that the government wrote a “blank cheque without conditions” when giving emergency [...]
Accounting watchdog floats strengthening auditors’ obligation to spot fraud October 21, 2020 The UK’s accounting regulator has proposed increasing the requirements on auditors to detect fraud in company accounts following a spate of high-profile accounting scandals. The Financial Reporting Council (FRC) has launched a review into the international accounting standard outlining auditors’ responsibilities to identify fraud. The watchdog is proposing revisions to the standard to provide “increased [...]
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 [...]