Snakes and Ladders: Who is moving jobs in the City this week? November 11, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. Read more: Snakes [...]
KPMG to sell restructuring arm to win more work November 9, 2020 Audit giant KPMG is to sell its restructuring arm because conflicts of interest and regulatory scrutiny are preventing it from winning work. In an email to colleagues KPMG UK chairman and senior partner Bill Michael said that concerns relating to conflicts of interest arising from its existing work was likely to “limit the restructuring clients [...]
Lockdown expected to delay client results and accounts, KPMG says November 6, 2020 The current national lockdown across England is expected to delay the announcement of results and accounts of clients, KPMG UK has said. The Big Four firm told City AM it is expecting and preparing to delay the announcement of results and accounts of some of the entities it audits. England entered a second national lockdown [...]
Deloitte fined for pension scheme audit failures November 6, 2020 Big Four firm Deloitte has been fined £362,500 for failures relating to the audit of a former client’s defined benefit (DB) pension scheme and the carrying value of the company’s intangible assets. The Financial Reporting Council (FRC) described the former client as one of the largest local and regional multimedia organisations in the UK responsible [...]
PwC buys mindfulness app for all staff amid coronavirus crisis November 6, 2020 Audit giant PwC has bought a 12 month subscription to a mindfulness app for all 22,000 staff across the UK business. City AM understands the chosen app is ‘Headspace’, a mobile app that aims to help users feel less stressed through a combination of meditation, mindfulness and better sleep. In a note to all partners [...]
Coronavirus pressure drives down number of permanent jobs November 5, 2020 The number of permanent staff appointments fell in October as rising Covid-19 cases weighed heavily on recruitment plans, with jobs in retail, hotels and catering hit particularly hard. Greater uncertainty drove a marked rise in temporary placements, according to the latest KMPG and REC report on jobs, and overall demand for staff fell. Widespread reports [...]
PwC to take over from KPMG as M&G’s external auditor November 2, 2020 PwC is set to take over from KPMG as M&G's external auditor.
Golden age of tech: Value of European tech firms soar to €618bn October 29, 2020 The value of Europe’s tech firms has soared in the past five years signalling the start of a golden age of tech entrepreneurship on the continent. Technology has become somewhat of a safe haven for investors during the pandemic but figures from Dealroom indicate it is part of a longer trend. European tech companies are [...]
Management consultancies cash in £180m for Brexit planning October 28, 2020 Management consultancies have been awarded more than £180m to deliver Brexit, as the government faces mounting criticism for handing out taxpayer cash to private firms during the pandemic. Documents released yesterday showed the government has signed six Brexit contracts each worth £30m with KPMG, McKinsey, Bain, Deloitte, Accenture and PwC. Ministers said the £180m sum [...]
Driverless Tube trains would cost £7bn, report shows October 27, 2020 A leaked document has shown that it would cost £7bn to introduce driverless trains onto London’s Tube network. Automating trains on the capital’s underground network is a pet project of PM Boris Johnson, who has pushed for progress on the development. Back in July, he said that driverless Tube trains should be a condition of [...]