Amid a recession and a cost of living crisis, there are still reasons to be cheerful on the economy January 3, 2023 A recession and a cost of living crisis will dominate the headlines, but it's not all bad news for the UK economy, writes City A.M. economics correspondent Jack Barnett
Who’s winning the City’s talent war? The firms that paid the most in 2022 December 24, 2022 Where to find the best paid job? As strikes over pay have brought the country to a halt, it is notable that workers in one sector in particular have seen their pay packets bulge in 2022. Aside from criminal barristers, who carried out a month’s long strike this summer, those working in private sector legal [...]
UK’s audit watchdog calls on top accounting firms to boost measures against exam cheating December 21, 2022 The UK’s accounting watchdog has called on Britain’s seven largest auditors to improve the measures they have in place to prevent cheating on exams, following a series of international cheating scandals involving the world’s biggest audit firms. In a letter seen by City A.M., the UK’s Financial Reporting Council (FRC) called on the country’s top [...]
Fees paid to FTSE 100’s auditors hit record sums of more than £1bn December 20, 2022 The UK’s top 100 listed companies paid more than £1bn to their auditors for the first time in 2021/22, following a steady uptick in audit fees linked to a tougher stance from the UK’s accounting regulator. FTSE 100 companies paid a record £1.01bn to their auditors for both audit and non-audit services, in the year [...]
The Metaversal Evolution Will Not Be Centralized December 20, 2022 Crypto fuels the metaverse Traditional fiat has and always will be devalued by central banks. It is only a matter of time before the Fed moves from QE-lite to full blown QE, spurred by another crisis. This is why crypto which acts as fuel for the metaverse is so important. The metaverse is simply communication [...]
Blockchains are changing the way you buy your home December 19, 2022 Blockchains are changing the way you buy your home – blockchain technology has already been successfully used for a number of years in Australia by a company called PEXA, which has recorded over 11million property transactions. The same firm has recently set its sights on the UK to revolutionise the way that mortgages are handled [...]
UK on course for slow burning recession, KPMG predicts December 19, 2022 The UK economy is on track to enter a long recession sparked by households and businesses being squeezed by sky high price rises, new forecasts out today unveil. Gross domestic product (GDP) will shrink 1.3 per cent next year, according to consultancy KPMG, who have become the latest organisation to warn of a protracted slump [...]
KPMG chief snubs global split as consulting arm drives growth in revenues December 13, 2022 The global head of KPMG today slapped down suggestions it might follow EY in pursuing a global split, in claiming the accounting firm’s strong financial performance “validates” its current approach. KPMG chief executive Bill Thomas rejected plans for a split in claiming the Big Four firm’s results “validates an unwavering commitment to deliver services… through [...]
Big Bang 2.0: Financial institutions welcome Jeremy Hunt’s Edinburgh reforms December 10, 2022 Leading financial institutions have welcomed Chancellor Jeremy Hunt’s Edinburgh reforms, which set out to “turbocharge” the UK’s growth. Announced yesterday, the plans aim to “seize the benefits of Brexit” by delivering the biggest shake-up in the financial sector for 30 years. According to UK Finance’s chief executive David Postings, the package is “a major step [...]
‘We talk about the three Cs now: cost of living, climate and conflict’ December 9, 2022 KPMG’s ESG chief, John McCalla-Leacy, discusses the scale of the challenge ahead ESG is a mercurial beast to grapple with at the best of times. Standards and regulation are yet to be consistently drawn up; definitions swing from a governance tool to an all-encompassing by-word for impact investing; and businesses and political leaders have begun [...]