AccountancyAge.com weekly news focus: Practice

AccountancyAge.com weekly news focus: Practice

PricewaterhouseCoopers has been dropped by the Royal Bank of Scotland. An attack on the mid-tier has been launched by consolidator Tenon, and the Rover audit could be up for grabs.

The sheer size of PwC appears to have been the reason why its lost the banking giant’s audit.

The Royal Bank of Scotland, having just taken over NatWest is understood to fear conflicts of interest because of the concentration of banking audits in the accounting giant’s hands.

PwC’s view, however, appears to be that the Royal Bank dropped it because Natwest is its banker.

Meanwhile, soon-to-be-floated mid-tier consolidator Tenon is planning to shake-up the accountancy market by binding middle-ranking accountancy firms into a giant accountancy services group which could approach the size of the Big Five.

Dramas continue at Rover this week, with the effect of harsh German accounting rules coming under the spotlight. The managing director of Alchemy is a chartered accountant.Meanwhile, the Rover audit could be up for grabs.

Join AccountancyAge.com this afternoon for live coverage of the Budget – and enter our online poll after the Budget to tell us what you thought of it. Bottles of champagne are offered every day until Sunday for the best comments.

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