Accounting news in the UK | Page 2

An overview of news, trends and research in the Accounting industry in the UK:

Douglas Home & Co hails five years of inclusive trainee programme Professional services firm Douglas Home & Co is celebrating the completion of five years of its trainee programme.
29 September 2023
Misconceptions on accountancy careers create barriers for new generation New research shows that many young people have misconceptions about careers in accountancy which may be creating unnecessary barriers and preventing them from seeing it as an attainable option.
17 August 2023
Mazars and BDO receive watchdog warning not to drop risky clients Mid-market professional service firms Mazars and BDO have been warned by the UK's auditing watchdog that they risk breaching industry code, if they look to ditch problematic audit clients.
14 July 2023
PwC receives £1.7 million fine for BT audit Big Four firm PwC has picked up a million-pound find for failings relating to its audit for BT Group.
06 September 2022
Quintessentially and BDO to cut audit ties Reports in the British media suggest BDO is set to quit its role as auditor of Quintessentially.
25 August 2022
Big Four foisting 'high risk' clients onto smaller competitors The Financial Reporting Council has found that the Big Four’s auditing function has collectively improved for two consecutive years.
28 July 2022
Settlement struck between Grant Thornton and Patisserie Valerie creditors Four years after the uncovering of accounting anomalies that would lead to the collapse of Patisserie Valerie, former auditor Grant Thornton has struck a multi-million-pound settlement for the result
30 June 2022
PwC probed over audits of construction groups Kier and Galliford Try As the UK’s accounting watchdog attempts to pressure the UK’s top accounting firms over a decline in standards, it has launched a new investigation into two PwC auditing contracts.
23 February 2022
FRC reprimands KPMG for Conviviality and Regenersis failings A member of the Big Four has once again been stung with a fine for audit failings in the UK.
28 January 2022
Things could be 'much worse' for Big Four if they oppose audit reforms With pressure still building on the UK’s auditing watchdog to address the number of accounting scandals toppling British companies, Big Four firms have been fired a blunt warning.
27 January 2022
Grant Thornton wins Sequoia audit role from KPMG Sequoia Economic Infrastructure Income Fund has announced the appointment of Grant Thornton as its new external auditor.
13 January 2022
Scottish professional services firm AAB secures growth investment Scottish accountancy and business services group AAB has received backing from private equity firm August Equity.
03 November 2021
UK firms should beware furlough 'clawback' as scheme ends The UK’s furlough scheme is finally winding down – something which could leave a number of firms financially exposed if they are not careful.
03 September 2021
EY fined over flawed 2017 audit of Stagecoach Professional services giant EY has become the latest member of the Big Four to be stung with a multi-million pound fine for its accounting work. The company received a £3.
01 September 2021
KPMG fined £13 million for Silentnight misconduct KPMG has been severely reprimanded by an independent tribunal for misconduct, after a long-running case relating to the sale of the bedmaker Silentnight.
09 August 2021
Accounting sector seeks clarity on post-Brexit AML regulation Following the secession of the UK from the EU, many professional services firms feel they have been left in the dark about the application of new anti-money laundering rules.
02 June 2021
Senior KPMG Executive scrutinised amid M&C Saatchi investigation One of KPMG’s most senior executives faces scrutiny from the UK audit regulator over a series of errors in the accounts of M&C Saatchi.
20 April 2021
SAP to become BDO's biggest international audit client As BDO continues to gain ground on the audit market leaders of the UK, the firm has announced it has won another new client from the Big Four.
23 March 2021
New professional services firm SLJ launches in Warwickshire West Midlands based tax expert Simon Littlejohns has announced the launch of a new professional services firm in Stratford upon Avon.
11 November 2020
BDO passes Big Four audit contract tally in UK The dominance of the Big Four on the UK’s auditing market has taken a knock, with the news that BDO now holds more listed audit clients than PwC, KPMG, EY or Deloitte.
05 November 2020
Deloitte stung with record fine for Autonomy audit An independent tribunal has ordered Deloitte to pay a £15 million and a further £5.6 million in legal fees, after the firm was found to have broken the rules of the UK accounting watchdog.
14 October 2020
BDO may bail out Spanish sister firm after hefty audit fine The global network of audit and advisory firm BDO – including its UK office – may be forced to bail out its Spanish wing, after it was stung with a massive penalty for its alleged role in an accounting scandal.
13 October 2020
Oxford Instruments to replace KPMG with BDO auditors Mid-tier professional services firm BDO will take up the audit contract of Oxford Instruments from the financial year commencing 1 April 2020.
09 March 2020
KPMG replaced by BDO as Wincanton auditor BDO has secured the auditing contract of logistics firm Wincanton, with the role commencing from April 2020.
05 March 2020
Mazars prizes AIG audit from grasp of Big Four One of the world’s largest insurers has lined up an accounting firm from beyond the professional services world’s Big Four.
26 February 2020
Ted Baker appoints Deloitte to probe multi-million stock overstatement Troubled fashion retailer Ted Baker has drafted in investigators from Deloitte to probe an accounting mishap that saw it overstate the value of its stock by up to £25 million.
10 January 2020
Vultures circle as RSM admits internal accounting blunder As it looks to win lucrative auditing work from disgruntled clients of the Big Four, mid-tier professional services firm RSM has been caught out regarding its own accounts.
08 January 2020
Labour pledges to take on Big Four audit "cartel” The Big Four of PwC, KPMG, Deloitte and EY could face an audit-sector overhaul, should the Labour Party win the 2019 general election.
29 November 2019
PwC to replace rival KPMG in ITV audit role Following the news KPMG was not competing to continue in its role as ITV’s external auditor, rival PwC has swooped to pick up the valuable accounting contract.
27 November 2019
EY and PwC also sold consulting work to Thomas Cook Big Four audit and advisory firms PwC and EY have come under scrutiny for selling consulting and accounting services to Thomas Cook in the lead up to the company’s collapse.
05 November 2019
Susan Roberts and Yomi Solanke join Grant Thornton Scotland Professional services firm Grant Thornton UK has made two senior hires to its Aberdeen team.
13 September 2019
KPMG faces potential lawsuit regarding Carillion audit Following the collapse of Carillion at the start of 2018, Big Four professional services firm KPMG has been under sustained scrutiny from UK regulators, the press and even Parliament.
12 August 2019

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