TONIGHT WILL BE A NIGHT FOR HEARTY CELEBRATION October 27, 2010 THIS evening will see 450 guests in their finery roll up at the Grange hotel at St Paul’s, as City A.M. proudly hosts its first ever awards ceremony honouring the UK’s business stars and City luminaries. The award winners will come from a diverse range of sectors, from investment to retail banking, fund management and [...]
KPMG faces probe into BAE audits October 26, 2010 The accounting regulator said it will investigate consultancy firm KPMG over its audits of defence firm BAE Systems, which was fined earlier this year for questionable payments to secure contracts. Audits covering the ten years between 1997 and 2007 will be investigated, as well as “commission payments paid by BAE,” Britain’s Accountancy and Actuarial Discipline [...]
KPMG probed over BAE audit October 25, 2010 AUDITORS at KPMG are to be investigated over their work for the arms-maker BAE Systems, an industry watchdog said yesterday. The Accountancy and Actuarial Discipline Board (AADB) will probe KPMG in relation to BAE’s payments through offshore companies between 1997 and 2007. The investigation follows on from BAE’s long-running corruption case linked to Saudi Arabian [...]
CITY MOVES | WHO’S SWITCHING JOBS October 25, 2010 Lazard The financial advisory and asset management firm has hired Fotis Hasiotis as co-head of the European financial sponsors group, based in London. Hasiotis joins from Bank of America Merrill Lynch, where he was head of EMEA financial sponsors. He originally joined Merrill’s New York team in 2004 from CIBC World Markets, later moving to [...]
Cuts to local governments could push outsourcing firms into administration October 20, 2010 LOCAL government will bear the brunt of some of the harshest cuts in the entire spending review, prompting one expert to predict the collapse of a number of companies that rely on outsourcing work. The department of communities and local government will see its day-to-day spending cut by 33 per cent in real terms over [...]
Johnson: tax bankers to soften cuts October 18, 2010 ALAN Johnson yesterday unveiled Labour’s strategy for reducing the deficit, backing his predecessor’s plan to halve it within four years but arguing for higher taxes on banks to soften the blow of spending cuts. Speaking to an audience of accountants at KPMG’s headquarters, the shadow chancellor said Alistair Darling was right to plan to halve [...]
The accountant who sees EU rules as a chance to transform his firm October 18, 2010 For a man less than three months away from retirement, BDO’s policy board chairman – in effect, the firm’s international chairman – can’t wait to get into the issues. And to be fair, there is much for Dermot Mathias, who joined the accountancy giant 37 years ago, to discuss. What excites him most is the [...]
Big Four set to face the Lords October 17, 2010 THE HEADS of the Big Four auditors are likely to face an influential House of Lords committee next month, in a probe into the lack of competition in the audit market and the role the firms played in the financial crisis. Watchdogs including the Financial Services Council (FRC) have submitted papers to the Lords’ Economic [...]
KPMG doubles pace of partner promotions amid hiring drive October 14, 2010 ACCOUNTANCY firm KPMG has doubled the number of staff it has promoted to the position of partner and director since last year, as part of its strategy of growing headcount to meet rising client demand. KPMG this month appointed 37 staff to its partnership and 110 to the position of director, compared to 20 new [...]
CITY MOVES | WHO’S SWITCHING JOBS October 14, 2010 BlackRock Ian Winship has moved over from Brevan Howard to join BlackRock’s sterling fundamental fixed income team as a senior portfolio manager. Winship has 21 years of experience in the investment industry, including an 11-year stint at Aberdeen Asset Management as head of global rates and his most recent position at Brevan Howard as head [...]