CITY MOVES | WHO’S SWITCHING JOBS December 12, 2011 Cushman & Wakefield The global property consultant has expanded its EMEA sustainability team by appointing Justy Mathew as sustainability analyst, based in London. He joins from Pensions & Investment Research Consultants, where he worked on corporate social responsibility. Reporting to Andries van der Walt, head of sustainability for EMEA, Mathew will deliver sustainability consultancy for [...]
Asian growth boosts KPMG December 11, 2011 BIG four accountancy firm KPMG today reports a strong rise in annual revenue on the back of increased sales in emerging markets. The practice said revenue rose 10.1 per cent to $22.7bn (£14.5bn) for the year to 30 September. As well as financial services, the results were driven by member firms seeing work grow in [...]
CITY MOVES | WHO’S SWITCHING JOBS December 11, 2011 KPMG KPMG has appointed Paul Sawdon as UK head of its internal audit practice. Sawdon has been a partner at KPMG for the past ten years, where he has worked on a variety of audit projects, including developing the firm’s extended assurance proposition. He takes over from David Defroand, who leaves to devote himself to [...]
ADVISERS: ROTHSCHILD December 8, 2011 HEAD OF UK FINANCIAL ADVISORY ROBERT Leitão, Rothschild’s head of UK global financial advisory, has led the team advising Cairn during its tortuous deal with Vedanta. He joined the company in 1998 after nine years at Morgan Grenfell & Co, where he was appointed a director in 1995. Leitão has been involved in over 150 [...]
E&Y to examine its involvement with Olympus December 8, 2011 THE JAPANESE arm of Ernst & Young is to set up an external committee to investigate its audit of scandal-ridden Olympus. The move follows a separate probe into an accounting scandal at the camera maker, which raised issues with its audit and work done by a previous auditor. Ernst & Young ShinNihon said it has [...]
Blacks tanks as it seeks an Xmas buyer December 7, 2011 STRUGGLING outdoor equipment retailer Blacks Leisure yesterday put itself up for sale, sending its shares plummeting as it admitted it had failed to find an alternative route out of it funding troubles. Shares in Blacks, which have lost 90 per cent of their value since the start of the year, extended losses to close at [...]
Blacks to be put up for sale December 7, 2011 Blacks Leisure plans to put itself up for sale after the struggling outdoor retailer failed to raise enough funds to carry on the business. The retailer had issued a profit warning last month in the run-up to Christmas, after the retailer in October said it was evaluating all kinds of funding options. “The directors do [...]
Job placements at 25-month low December 6, 2011 British recruitment firms said the number of people placed in permanent jobs fell at the fastest pace since 2009 in November, highlighting the pressures on the economy at a time of public spending cuts and worries about the Eurozone. A survey for the Recruitment and Employment Confederation (REC) and accountant KPMG released today shows that [...]
Auditors hit by Olympus probe verdict December 6, 2011 KPMG AZSA’s reputation took a hit yesterday when the independent investigation into Olympus released a report naming substandard external auditing as one of the central factors in the scandal. The report censured the Japanese auditing firm, of which Olympus was a long-standing client, for issuing unqualified clean opinions without in-depth evaluation and for neglecting to [...]
SNAPSHOT OF A SCANDAL December 6, 2011 THE EXECUTIVES Masatoshi Kishimoto (far right) President 1993 – 2001 Tsuyoshi Kikukawa (right) President 2001 – 2011 Hisashi Mori former executive vice president – left Nov 2011 Hideo Yamada ex-internal auditor – left Nov 2011 “The core of management was corrupted and the surrounding portion was contaminated,” the report found THE WHISTLEBLOWER Michael Woodford Ousted [...]