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Big Four

  • EY hands £1,100 pandemic ‘thank you’ bonus to non-partners

    April 30, 2021

    EY will hand out payments of around £1,100 to non-partners next month as a thank you for the work carried out during the Covid-19 pandemic. Some 17,000 UK staff will receive the one-off payment, which is in addition to EY’s normal salary review and bonus that take place in October. EY is the second of [...]

  • Interim KPMG CEO quits after being passed over for permanent role

    April 29, 2021

    Interim KPMG CEO Mary O’Connor, the first woman to lead the Big Four firm, has quit after she was passed up for the permanent role. O’Connor took over as chief executive of KPMG UK following the sudden departure of Bill Michael earlier this year, after he made controversial comments about unconscious bias training during a video call [...]

  • KPMG staff fired after rowdy ‘boys’ night out’ featuring binge drinking and strippers

    April 28, 2021

    Staff from KPMG’s private equity division in Melbourne were fired after a wild ‘boys’ night out’ that featured heavy binge drinking and strippers. A 2015 video invitation to ‘boys’ night’, sent to 80 male employees at KPMG’s Melbourne office, with women excluded, has just recently come to light. According to the Mail Online, the video [...]

  • EY quits as auditor of P2P lender Kuflink over governance concerns

    April 27, 2021

    EY has resigned as auditor of peer-to-peer lender Kuflink after finding a litany of problems at the group, including worries about its general oversight. The Big Four firm stepped down as auditor on 16 February, according to a letter on Companies House, which said Kuflink had “significant work” to do on multiple aspects of its [...]

  • Big Four and challengers ask for leeway on difficult audits to avoid public criticism

    April 27, 2021

    The Big Four and the challenger audit firms have asked the accountancy watchdog for more leniency when it comes to more difficult audit jobs, for fear of public criticism if they make a mistake. Audit firms have asked the Financial Reporting Council (FRC) to pause quality inspections of their work for a year if they [...]

  • KPMG’s ex-interim CEO Mary O’Connor in talks about leaving after being passed up for the top job

    April 23, 2021

    Mary O’Connor, who was the first woman to head up KPMG, is in advanced talks to leave the firm after being passed over for the top job. O’Connor is close to agreeing the details of her exit, Sky News first reported, and a statement on her future at the company could be made in the [...]

  • City Moves: Who is switching jobs in the Square Mile this week?

    April 21, 2021

    Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. In this week’s City Moves, we have a host of newly created roles making their way across the Square Mile. From chief data officers to directors of environment social and governance – the [...]

  • 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 [...]

  • Blacklist audit firms for fraud failures, urges Pirc

    April 19, 2021

    Large audit firms that are deemed not to be working hard enough to root out corporate fraud will be blacklisted in this year’s annual shareholder meetings by Pirc. Pirc has urged investors have not to reappoint PwC, KPMG, EY or Grant Thornton because it believes they have not done enough to improve their fraud detection [...]

  • Judge to decide if PwC US lawfully sacked whistleblower

    April 14, 2021

    Following a nine-day trial, a judge will decide if PwC US broke the law by firing a senior manager for blowing the whistle on the Big Four firm’s allegedly cosy relationship with two tech companies it audited. Former PwC senior manager Mauro Botta accused audit giant of firing him because he submitted complaints to the [...]

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