Junior KPMG auditor ‘should have questioned’ manager’s instructions, tribunal says A 25-year-old junior KPMG auditor, who copied meeting minutes into a document as part of a scheme to deceive the UK’s Financial Reporting Council (FRC), “should have questioned” his manager’s instructions, a disciplinary tribunal has said. Junior accountant Pratik Paw, who was asked to forge documents by his superiors during an FRC inspection of KPMG’s [...]
KPMG’s Dubai partners urge global leadership to suspend Emirati bosses other news this weekend A group of senior partners at KPMG’s Dubai business have called on the Big Four accounting firm’s global leadership to suspend bosses at its UAE division, over allegations of nepotism, cronyism, and a culture of fear within the firm. The Dubai partners are calling on KPMG International’s top executives to parachute in a temporary chief [...]
UK fintech investment tumbles as inflation rocks markets fintech funding UK fintech investment plunged in the first half of 2022 as war in Ukraine and soaring inflation brought last year’s funding frenzy to a sharp close, new figures have revealed today.
Amigo Loans cuts ties with KPMG following ‘competitive tender’ September 5, 2022 Amigo Loans has cut ties with KPMG in appointing mid-tier accountancy firm MHA MacIntyre Hudson as its new auditor. The subprime lender said in a statement it had appointed MHA MacIntyre Hudson as its new auditor after the accounting firm won a competitive tender for the contract to audit Amigo’s accounts. KPMG said in a [...]
Bain & Co to challenge UK government’s ban via judicial review September 4, 2022 Bain & Co is set to challenge the Cabinet Office’s decision to ban it from competing for government contracts, via a judicial review. The US consultancy has applied for a judicial review of the Cabinet Office’s decision last month to ban the firm from tendering for UK government work, the Financial Times reported. The UK [...]
KPMG shakes up UK executive committee in line with £300m growth strategy September 1, 2022 KPMG today set out plans to shake up its UK executive committee in line with efforts to bolster high-growth areas of its business by investing £300m over the next three years. The executive reshuffle will see KPMG’s chief financial officer Chris Hearld take the reins from current chief operating officer Tim Jones from 1 October. [...]
Fraud prosecutions slowed by record Crown Court wait times August 30, 2022 THE UK’s Crown Court backlog is stalling efforts to tackle the UK’s worsening fraud epidemic, according to new research from KPMG. The value of frauds worth more than £100,000 reaching the UK’s Crown Courts increased 288 per cent, from £137.4m in the first half of 2021 to £532.6m in H1 2022, as a series [...]
The Big Four’s legal ventures should worry mid-tier law firms August 26, 2022 THE BIG Four’s first forays into the legal sector in the 1990s ended in abject failure. Yet over the past decade, the world’s four biggest accounting firms have captured a significant share of the UK’s market for legal services, and have increasingly begun to compete with traditional firms. Deloitte, EY, KPMG, and PwC have used [...]
UK workers keen to bag big City bonuses August 22, 2022 Workers are keen to capitalise on bumper bonuses handed out by banks, brokers and insurers, a new survey published today shows. Around a quarter of Brits want to shake up their careers and move into the financial services sector, according to consultancy KPMG. Of those considering moving to a job in the City, some 58 [...]
PwC scraps 2:1 entry requirement for graduates as City war for talent heats up August 15, 2022 BIG four accountant PwC will start recruiting graduates who missed out on a 2:1 degree at university, the firm announced today, in a bid to “diversify” its intake amid an ongoing City talent war. Graduates who received a 2:2 – colloquially known as a “Desmond” in reference to the late South African priest Desmond Tutu [...]