As accounting firms prep for busy period, non-Big Four players spot new opportunities May 26, 2021 The majority of 2020 was a slow year for the UK’s deals market, with mergers and acquisitions depressed by the Coronavirus pandemic and its subsequent lockdown restrictions. This trend, however, now seems to be in reverse with a number a big deal in the private sector, including Virgin Media and O2’s £31bn mega merger, and [...]
Has lockdown triggered a City brain-drain? May 20, 2021 The explosion in home-working due to lockdown is shifting the focus away from a London-centric view of careers, with regional firms benefiting from a growing desire to shun the commute. Lockdown is prompting a shift away from City jobs to opportunities at smaller, regional practices with talent-hungry boutique firms stretching to match Square Mile-level salary [...]
Three-quarters of new FRC panel members being ex-Big Four causes interest concerns May 5, 2021 The majority of individuals recently recruited to the FRC’s advisory panel have at some point worked for a Big Four firm, raising concerns about their objectivity when it comes to making recommendations that are in the public interest. The Financial Reporting Council (FRC) recently announced 19 new appointments to its advisory panel, a body established [...]
Audit sector ‘failing society and needs reform’ warns think tank April 21, 2021 The UK’s audit sector is “failing society” by coming up short when assessing firms’ finances and governance, leaving the door open to costly, Carillion-style business collapses, according to think tank IPPR. The think tank said there is an “expectation gap” between what audit currently assesses and what it needs to assess to fulfil the [...]
Mid-sized firms set for investment and hiring spree as UK exits lockdown April 5, 2021 Mid-sized firms set to splurge on investment and new hires as UK exits lockdown
Self-employed get tax reprieve as HMRC delays first late fee on unpaid self-assessment debt February 19, 2021 Self-employed get tax reprieve as HMRC delays first surcharge on unpaid self-assessment debt
BDO eases promotion pause and makes 20 new partners January 6, 2021 Some 20 employees at BDO have finally been promoted to partner at the firm, having had their promotions delayed for six months because of Covid-19. The new partners work across the audit firm’s tax, audit and advisory teams and their promotions are effective from 1 January. A total 470 staff that were due promotions in [...]
Accountants BDO to pay back millions in furlough cash after payout outcry December 13, 2020 Accountants BDO will return £4.1m in furlough cash after being subject to a barrage of criticism for paying out hefty profits to its partners. The Sunday Times reported that the company, which is one of the UK’s biggest accounting firms, would give back the money after paying its partners an average of £500,000. Managing partner [...]
Lengthy audits cut into BDO profits as firm defends use of furlough scheme December 10, 2020 Audits carried out during the coronavirus pandemic have taken between 5 and 10 per cent longer than they would typically, creating extra expense for clients and smaller profits for BDO. Profits at the audit and consultancy firm suffered somewhat in the 2019/20 financial year, with the firm making a profit of £137m, down from a [...]