Publication of KPMG’s annual accounts are expected to be delayed for over a month following the collapse of merger talks with Ernst & Young, writes Phillip Inman.
The firm was due to release its figures at the end of January, but they are now unlikely to be released until next month. Insiders said the frantic struggle to provide information to the European competition authorities had led to the delay.
‘It’s always hectic trying to get our results together. This time there were too many partners with their eye off the ball,’ an insider said.
KPMG was the first major accountancy firm to produce plc-style accounts and last year it was the first firm to have its figures audited. The delay could prove embarrassing for the firm that has long claimed to be more open to scrutiny than its rivals.
A spokesman for KPMG denied the firm’s auditors, Grant Thornton, had found it difficult obtaining detailed financial information.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel