Pressure mounts on the CMA to break up accountancy’s Big Four October 1, 2018 The UK’s competition body has been told to “bare its teeth” and investigate breaking up the Big Four accountancy firms, as it prepares to announce a decision on whether it will investigate the sector. Three senior politicians from across the main parties have called on the Competition and Markets Authority (CMA) to find ways to [...]
City Moves for 1 October 2018 – who’s switching jobs at Deloitte, Cambridge Economic Policy Associates and Bailey Montagu Executive Search? October 1, 2018 Today's City Moves cover advisory, consulting and executive search. Take a look at these movers and shakers: Deloitte Deloitte has appointed Chris Graves as a partner in its advisory corporate finance practice. Chris will lead the firm’s technology, media and telecoms (TMT) mergers and acquisitions (M&A) team. Chris joins Deloitte today from GP Bullhound, the [...]
Taxpayers to foot £65m bill from Carillion redundancies September 25, 2018 Taxpayers are set to cough up £65m in redundancy payouts following the collapse of outsourcer giant Carillion. The liquidated construction services company, which bucked under the weight of a £1.5bn debt pile in January, has so far paid out £50m of the total £65m after thousands of workers were made redundant. The figures also [...]
Labour mulls break-up of Big Four accountancy firms September 21, 2018 The Labour party is weighing up radical plans to break up the Big Four accountancy firms, amid mounting pressure on the UK’s scandal-hit auditors. Shadow chancellor John McDonnell vowed to end what he described as a “cartel” among the country’s largest bean counters in the run-up to his party conference this weekend. “They have demonstrated [...]
A summer to forget: KPMG reputation dealt another blow after admitting to compliance report misconduct September 19, 2018 Scandal-hit KPMG has admitted to misconduct over compliance reports made for a unit of the Bank of New York (BNY) Mellon Group in another fresh embarrassment for one of the Big Four accountancy firms. The UK’s accountancy watchdog said today that KPMG and one of its partners Richard Hinton accepted they had fallen short of standards [...]
PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]
EY boss hits back at calls to break up Big Four September 13, 2018 The global chief executive of EY has hit back at criticism of the Big Four financial services firms, which have been slammed for the lack of competition in the audit market following high-profile corporate collapses. The company, which today announced boosted global revenue of $34.8bn in the financial year to the end of June, came under [...]
Deloitte UK’s Young Banker of the Year Awards 2015 nominees: They’re bankers, but not as you know them… August 27, 2015 Meet Deloitte UK's Young Banker of the Year Awards' nominees In recent years, identifying oneself as a banker has been something of a social faux pas. But are things about to change? As the summer break comes to an end, financial advisers Deloitte are kicking off the new school term with their Young [...]
Plenty of profit for UK partners after Deloitte reports strong earnings August 23, 2015 Deloitte UK partners received bumper payouts this year after high business confidence led to a robust company performance. The professional services firm’s revenue hit £2.71bn in the 12 months ending 31 May, up 6.4 per cent on the year before, it said this morning. Consultancy revenues led the way with a rise of 10.5 per [...]
Deloitte promotes more female partners in drive for equality May 31, 2015 Big four accountancy firm Deloitte promoted 22 women to the position of partner today, in its biggest ever round of appointments. The promotion of 75 new partners also includes 23 outside London as the business expands its reach outside the capital. And it announced a “return to work” scheme designed to help women who have [...]