began with good news for Big Four firm Ernst & Young. It released its global revenue results which revealed an increase of $300m to a record $10.1bn for the fiscal year ending June 30 2002.
Tuesday’s big story also involved E&Y, this time in the UK, but was not such good news, after the High Court rejected appeals from the firm to stay a Joint Disciplinary Scheme’s investigation into work carried out as auditor of the Equitable Life Assurance Society.
And there was more bad news for struggling football clubs, as cash-strapped first division football club Leicester City said it would meet with the Professional Footballers Association to negotiate a possible reduction in players’ wages as it bids to stave off administration.
On Wednesday the UK’s chief financial watchdog, the Financial Services Authority told AccountancyAge.com it would publish a list of financial institutions that breach its anti-money laundering rules, while Michael Kayser, the recently appointed FD of engineering company Amey, quit the company barely a month after joining the board.
Thursday saw Accountancy Age reveal that the prospect of a European super regulator has been placed firmly on the agenda after a senior eurocrat called for effective enforcement of auditing and accounting standards, while Porsche withdrew its plannned listing from the NYSE over Sarbanes-Oxley and Andersen was fined the maximum over its work at Enron.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
Hundreds of jobs are secure after Spectrum Contracting has been sold out of administration to Minstrell Recruitment by FRP Advisory
Cowgill Holloway and Warings Business Advisors have merged, with a range of growth plans in the North West put in place
The Practitioner discusses their timesheet militancy, and reaction to someone playing it fast and loose with the details...