Possible tax hikes for LLPs in Budget may ‘distort’ the market and push firms overseas Prof Services Despite the professional services sector dodging tax hikes on LLPs in last year’s Budget, it remains unclear whether Chancellor John Healey will impose tax changes this time round, but Rosie Harris-Davison writes that experts have warned against any tax burdens on the sector. In the lead-up to last year’s Budget, whispers circulated for weeks that [...]
Accounting watchdog launches enquiries into Man City auditor BDO Accountancy The Financial Reporting Council (FRC) is considering launching a formal probe into Manchester City’s accounts and its external auditor BDO, after the club was found to have breached the Premier League’s financial rules. In a letter to the government’s business committee, penned by the newly appointed chair, Dame Jayne-Anne Gadhia, the FRC said it is [...]
Big Four giant Deloitte accused of faking paperwork to hide Roman Abramovich wealth Big Four The Cyprus branch of Big Four giant Deloitte and its spin-off are alleged to have falsified corporate paperwork to protect former Chelsea FC owner Roman Abramovich’s assets before the UK government sanctioned him. According to a joint investigation by the Bureau of Investigative Journalism (TBIJ) and BBC Panorama, it is alleged that accounts signed off [...]
EY global revenue hits $57bn as AI demand fuels Big Four giant’s growth October 8, 2026 Big Four giant EY’s global revenue has hit $57bn (£43bn), up nearly 5 per cent on the previous financial year. EY-Parthenon’s strategy arm led the firm’s overall growth across all services lines, with a 7 per cent increase. Tax grew by 6 per cent, consulting by over 4 per cent, and assurance by 3 per [...]
Gen Z accountants think AI fluency gives them the edge over managers October 7, 2026 Young accountants are arriving in the sector confident in their AI skills, but a lack of soft skills is emerging as a new workplace divide. According to new findings from financial tech platform Intuit QuickBooks, based on responses from more than 1000 early-career accountants and finance professionals, almost all (90 per cent) said they will [...]
KPMG Australia seeks $100m bailout from parent group after scandal October 6, 2026 KPMG Australia is reportedly considering asking for $100m (£52.6m) in emergency loans from the Big Four firm’s global network after a scandal rocked the firm’s reputation and business down under. The Australian firm’s newly appointed chief executive, John Sams, has considered asking KPMG International to loan the arm up to $100m or waive its fee [...]
Grant Thornton takes on Big Four giants with new £40K salary for London grads September 29, 2026 Grant Thornton has raised its London graduate starting salary to £40,000 and introduced “milestone bonuses” into the pay structure as part of the firm’s ambition for significant growth. The private equity-backed firm has overhauled its early careers programme, first reported by City AM in April, and will offer ‘market-leading’ starting salaries to London juniors of £40,000 from [...]
Home secretary donor reprimanded by accountancy regulator September 16, 2026 An accountancy firm director was severely reprimanded by the regulator and handed a £14,000 fine for breaching accountancy standards. Andeep Mangal, director of Birmingham-based accountancy firm Thapers Chartered Accountants, received a severe reprimand and a £14,000 fine on Wednesday for two separate allegations, and was ordered to pay a further £11,455 in costs to the [...]
Regulator opens triple probe into Prax Group’s oil audits September 11, 2026 The audit watchdog has launched three separate investigations into the auditing of the collapsed UK energy challenger Prax Group. The Financial Reporting Council (FRC) opened probes into the financial oversight and audit of Prax’s parent company, State Oil, and will also examine Big Four KPMG’s audit of the fiscal years ended 28 February 2022 and [...]
UK government slashes corporate red tape, cutting paperwork ‘longer than The Hobbit’ September 7, 2026 Ministers have announced sweeping reforms to corporate reporting, aiming to save businesses over £450m annually by ditching “Hobbit-length” paperwork. Under the overhaul, small and medium-sized enterprises (SMEs), including local family firms, will be exempt from certain reporting forms and audits, aiming to save businesses thousands of pounds and hours of administrative work. The Department for [...]