Hybrid working: Out of office… forever? September 8, 2021 During lockdowns, many started working from home for the first time. Now, 91% don’t want to go back to the office full-time. With hybrid models of work being adopted by many, Christian Koch talks to leading CAs about the chances of a new workplace revolution… This article first appeared in ICAS’ CA magazine. What does [...]
KPMG boss intervenes in dispute with FRC over poor auditing standards September 7, 2021 The global head of KPMG has written to the UK’s Financial Reporting Council (FRC) over the its threats to publish further criticism of the auditor’s repeated failings, the Financial Times first reported. Bill Thomas, KPMG’s global chair and chief executive, entered the increasingly public dispute between the big four auditor and the FRC, after executives [...]
Retail sales growth slowed in August amid recovery warnings September 7, 2021 Retail sales growth has started to slow as shoppers’ pent-up enthusiasm has softened this summer. Total sales increased by 3 per cent in August, below the three month average growth of 6.9 per cent. Clothing retailers reported strong performances as Brits looked to stock up their post-lockdown wardrobes with outfits for weddings and returning to [...]
Nationwide taps Royal London chairman for top job September 6, 2021 Nationwide is poised to announce a new chairman who will take over the building society next year. Former Scroders and KPMG executive Kevin Perry will replace David Roberts, according to Sky News. The building society was reportedly in the process of seeking regulatory approval for the new appointment, according to the news organisation’s City sources. [...]
How worker shortages are cleared will determine UK economy’s trajectory September 4, 2021 You would be forgiven for forgetting we are currently amid one of the best runs of economic growth in living memory with all the negative news about supply chain snarl ups, worker shortages and soaring inflation flying around. A slew of data published this week, alongside a raft of announcements from supermarket, retail and food [...]
KPMG UK audit chair to join board of BHP September 2, 2021 KPMG’s UK chair of audit, Michelle Hinchliffe, will join the board of BHP as a non-executive director next year, the mining company has announced today. Hinchliffe will retire from KPMG UK in February after 30 years in the accounting giant’s financial services division. She will also become a member of BHP’s risk and audit committee [...]
KPMG and ex-partner accused of misconduct in FRC’s investigation into Carillion audit September 1, 2021 KPMG, ex-partner Peter Meehan and current and former staff at the Big Four accountant are alleged to provided false and misleading information to a City watchdog investigating its audit of collapsed construction giant Carillion. The allegations are part of a Formal Complaint issued this morning by the Financial Reporting Council (FRC) in connection with the [...]
CEO confidence in the global economy returns to pre-pandemic levels September 1, 2021 CEOs of the world’s largest businesses are increasingly optimistic about the global economy’s immediate prospects. Despite a slower ‘return to normal’ than expected, CEOs’ expectations have finally reached above pre-pandemic levels. The KPMG 2021 CEO Outlook found that 60 per cent of leaders are confident about the global economy’s growth prospects over the next three [...]
KPMG encourages whistleblowing to avoid media leaks after CEO’s exit August 26, 2021 KPMG are reportedly urging staff to use its whistleblowing system to report concerns instead of the media, after a leaked meeting recording led to its former head Bill Michael stepping down, first reported by Financial News. The ex KPMG boss, who left the firm in February, made comments around “unconscious bias” during an online town [...]
FRC to ‘strengthen’ audit governance code to tackle Big Four accounting scandals August 26, 2021 The Financial Reporting Council (FRC) has today announced proposals to update and “strengthen” its Audit Firm Governance Code and establish “operational separation” at the Big Four firms. The proposed changes are aimed at clarifying the role of partnership boards in holding management to account, said the UK accounting watchdog in a statement. A key proposal [...]