KPMG today said it had no way of confirming that its senior partner Mike Rake was the highest paid accountant in Britain because rival Big Five firms did not produce audited accounts.
KPMG unveiled its annual accounts yesterday, which revealed that senior partner Mike Rake received £1.5m for the year to September 1999. Average partner pay at the firm was almost £400,000.
The figures prompted reports that he was the highest-paid accountant in the UK, exceeding what has been reported to be the previous record – £1m – held by his predecessor Lord Sharman who left last October to become a working Liberal Democrat peer.
KPMG was quick to point out, however, that these claims were impossible to confirm because, with the exception of Ernst & Young, none of its rival Big Five firms produced audited accounts.
A PricewaterhouseCooper’s spokesman said the firm never commented on anyone’s income.
KPMG UK unveils surge in fee income as it breaks through the billion-pound barrier
The numbers you crunch tell a story. Your expertis...
24yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article