Sterling at highest point against the Euro in 21 months November 17, 2021 The pound is at its highest rate against the euro for nearly two years after data revealed UK inflation is at its highest rate for a decade. Interest rates surged to 4.2 per cent in the year to October, more than double the central bank’s target of two percent and the highest level since December [...]
Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
Big Four accountants warned by regulator to improve audits November 16, 2021 The head of the UK accounting watchdog has told the Big Four audit firms they need to run their own businesses better, before advising other companies, according to reports. Sir Jon Thompson, chief executive of the Financial Reporting Council (FRC) made his remarks ahead of the regulator’s launch today of its first guide for accountants [...]
Top accountancy firms more likely to hire white applicants November 12, 2021 White applicants are more likely to be successful when applying for jobs in the top UK accountancy firms, over those from ethnic minority or lower socio-economic backgrounds, according to a new report. The report, published today, by charity Access Accountancy looked at the socio-economic backgrounds of people who applied for jobs at ten accounting companies, [...]
City Moves: Who’s switching jobs in the Square Mile today? November 11, 2021 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. DF Capital Specialist lender DF Capital has hired a new head of change and continuous improvement, who will be responsible for leading the development of business innovations across the bank. Also ensuring organisational processes are most [...]
KPMG faces £15m fine over Quindell audit November 10, 2021 Accounting giant KPMG could be confronted with a £15m legal claim from insurance outsourcer Quindell, according to reports. Quindell, now known as Watchstone, is preparing to file claims against the Big Four firm, alleging that it suffered losses of up to £15m from KPMG’s audit in 2013, according to Financial News, which first reported the [...]
Insurance body ABI names Nicky Morgan new chair amid management shake up November 10, 2021 Former MP Nicky Morgan has been appointed as the first independent chair of the Association of British Insurers (ABI), as the trade body overhauls its management. Two more senior appointments were today announced by the ABI, whose members include Aviva and Axa, as part of reforms by the organisation to improve consumer trust in the [...]
UK economy set to eke out anaemic growth in set of muddled GDP figures November 9, 2021 The UK economy is set to squeeze out anaemic growth as the recovery from the Covid-19 crisis continues to slow, according to City economists. Severe supply chain bottlenecks, compounded by soaring energy prices, logistics systems breaking down and a paucity of workers has crimped businesses. As a result, the size of the British economy is [...]
Australian treasury accused of pressuring ex-KPMG partner to omit $10bn gap in report November 8, 2021 A former KPMG partner has claimed he lost his job after being pressured by an Australian public servant to change a document that found a $10bn gap in the Treasury’s finances, according to reports. In a parliamentary hearing today, Brendan Lyon said he received “professional, ongoing attacks,” from public servants and that the Australian treasury [...]
KPMG eyes larger piece of UK’s asset management pie as it lures EY and UBS veterans November 8, 2021 Accountancy giant KPMG is ramping up its efforts in the UK’s wealth and asset management space as the firm has appointed a range of new partners. KPMG said it has appointed Dean Brown as a partner and Shelley Doorey-Williams as an Associate Partner in its market leading Wealth and Asset Management practice. Brown will support [...]