FRC fines reach record high after 24% increase this year

Audit FRC fines reach record high after 24% increase this year

3y Alia Shoaib, Reporter

FRC fines reach record high after 24% increase thi...

After a string of high profile audit failings, including the collapse of Carillion, the FRC has been under increasing pressure from the government and...

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PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

Audit PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

3y Alia Shoaib, Reporter

PwC replaces Deloitte as Linklaters auditor after ...

The conflict began when Arsenal stakeholder Lady Nina Bracewell-Smith filed a professional negligence claim against the Big Four and magic circle firm...

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PwC appoints two new partners

People In Practice PwC appoints two new partners

3y Alia Shoaib, Reporter

PwC appoints two new partners

PwC has appointed Tom Yeates and Mark Jennings as new partners in its Northern offices Read More...

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HMRC property raids reduce by 30% through use of AI and big data

HMRC HMRC property raids reduce by 30% through use of AI and big data

3y Alia Shoaib, Reporter

HMRC property raids reduce by 30% through use of A...

HMRC is leveraging sophisticated algorithms and big data sources to gather evidence with greater ease and efficiency than property raids Read More...

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Small businesses feel penalised by “intensive” HMRC investigations

HMRC Small businesses feel penalised by “intensive” HMRC investigations

3y Alia Shoaib, Reporter

Small businesses feel penalised by “intensive” HMR...

Research commissioned by HMRC showed that over half of small businesses find HMRC investigations too intensive and disruptive Read More...

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HMRC joins international coalition J5 to combat tax crime

HMRC HMRC joins international coalition J5 to combat tax crime

3y Alia Shoaib, Reporter

HMRC joins international coalition J5 to combat ta...

The 5 member countries will collaborate to tackle international tax crime, money laundering and threats posed by cryptocurrencies and cybercrime Read ...

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PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

Audit PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

3y Alia Shoaib, Reporter

PwC ordered to pay $625.3m over failure to detect ...

A US federal judge found that as auditor PwC was negligent and failed to detect £2bn fraud which spanned several years Read More...

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FRC to investigate KPMG’s Conviviality audit

Audit FRC to investigate KPMG’s Conviviality audit

3y Alia Shoaib, Reporter

FRC to investigate KPMG’s Conviviality audit

The FRC is investigating KPMG over its 2017 audit of Conviviality, which went into administation in April after finding an unexpected tax bill of £30m...

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June news roundup with Alia Shoaib

Audit June news roundup with Alia Shoaib

3y Alia Shoaib, Reporter

June news roundup with Alia Shoaib

Accountancy Age's Alia Shoaib provides a roundup of all the key new stories in the accountancy industry from the month of June Read More...

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Apprenticeship levy: recent changes and what the future holds

Career Apprenticeship levy: recent changes and what the future holds

3y Alia Shoaib, Reporter

Apprenticeship levy: recent changes and what the f...

The government has introduced greater flexibility in the levy system, but does it go far enough? Read More...

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FRC opens investigation into Deloitte’s audits of SIG

Audit FRC opens investigation into Deloitte’s audits of SIG

3y Alia Shoaib, Reporter

FRC opens investigation into Deloitte’s audits of ...

The investigation comes months after shareholders voted to remove Deloitte as auditor in an unusual rebellion, and will focus on the audit of cash and...

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PwC auditor spent just two hours on BHS audit, says chairman

Audit PwC auditor spent just two hours on BHS audit, says chairman

3y Alia Shoaib, Reporter

PwC auditor spent just two hours on BHS audit, say...

In a damning email circulated to PwC partners, Kevin Ellis said Steve Denison spent only two hours on the audit and backdated his audit opinion Read M...

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FRC reports an “unacceptable deterioration” in KPMG audit quality

Audit FRC reports an “unacceptable deterioration” in KPMG audit quality

3y Alia Shoaib, Reporter

FRC reports an “unacceptable deterioration” in KPM...

The report found that half of KPMG's audits needed more than limited improvements, and will now increase scrutiny on the firm's upcoming audit work Re...

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FIFA World Cup 2018: fact of the day

Tax FIFA World Cup 2018: fact of the day

3y Alia Shoaib, Reporter

FIFA World Cup 2018: fact of the day

Enjoy a fact of the day to go with the match of the day! Stay tuned for tax and economy facts about all 32 countries as they play Read More...

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Supreme Court rules against Pimlico Plumbers in landmark employment case

Legal Supreme Court rules against Pimlico Plumbers in landmark employment case

3y Alia Shoaib, Reporter

Supreme Court rules against Pimlico Plumbers in la...

The ruling, relating to the employment status of plumber Gary Smith, will have wide implications for the gig economy and the rights of independent con...

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PwC fined a record £10m over BHS audit

Audit PwC fined a record £10m over BHS audit

3y Alia Shoaib, Reporter

PwC fined a record £10m over BHS audit

The record fine comes after a two-year investigation into BHS’s 2014 audits, which PwC had signed off on just days before its sale for £1 Read More...

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KPMG fined £4.5m over Quindell audit misconduct

Audit KPMG fined £4.5m over Quindell audit misconduct

3y Alia Shoaib, Reporter

KPMG fined £4.5m over Quindell audit misconduct

The firm admitted to two counts of misconduct and said that it "should have gone further" in challenging the scandal-ridden company's accounts Read Mo...

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BDO promotes 14 partners

People In Practice BDO promotes 14 partners

3y Alia Shoaib, Reporter

BDO promotes 14 partners

BDO has announced the promotion of 14 new partners across its tax, audit and advisory teams, based in London, Leeds, Southampton and Guildford Read Mo...

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PwC to net £50m from Carillion insolvency

Accounting Firms PwC to net £50m from Carillion insolvency

3y Alia Shoaib, Reporter

PwC to net £50m from Carillion insolvency

The NAO report revealed that Carillion's insolvency will cost the taxpayer £148m while PwC will net £50m, a figure that has been questioned by MPs Rac...

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Brexit: HMRC estimates “max-fac” model or “no deal” could cost £20bn

Brexit & Economy Brexit: HMRC estimates “max-fac” model or “no deal” could cost £20bn

4y Alia Shoaib, Reporter

Brexit: HMRC estimates “max-fac” model or “no deal...

After causing a stir by estimating the Brexiteer-favoured "max-fac" customs arrangement could cost upto £20bn, HMRC chief Jon Thompson returned to the...

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Deloitte faces disciplinary action over Autonomy accounts scandal

Audit Deloitte faces disciplinary action over Autonomy accounts scandal

4y Alia Shoaib, Reporter

Deloitte faces disciplinary action over Autonomy a...

The FRC has brought disciplinary action against Deloitte auditors over their failure to adequately challenge issues with Autonomy’s accounts, which le...

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Accountex 2018: Women and millennials in accountancy

Career Accountex 2018: Women and millennials in accountancy

4y Alia Shoaib, Reporter

Accountex 2018: Women and millennials in accountan...

Several sessions at Accountex looked at the human side of accountancy– particularly the experiences of millennials and women in the industry, and how...

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Women in Finance winner Anna Anthony, EY, on her career, gender pay gap and the changing industry

Career Women in Finance winner Anna Anthony, EY, on her career, gender pay gap and the changing industry

4y Alia Shoaib, Reporter

Women in Finance winner Anna Anthony, EY, on her c...

We sat down with Anna Anthony, who topped our Women in Finance ranking, to discuss her career trajectory, the danger of conformity and how to help wom...

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Crowe Clark Whitehill to administrate Cambridge Analytica insolvency– but is this really the end?

Insolvency Crowe Clark Whitehill to administrate Cambridge Analytica insolvency– but is this really the end?

4y Alia Shoaib, Reporter

Crowe Clark Whitehill to administrate Cambridge An...

The company blamed “unfounded accusations” and the “siege of media coverage” for its closure, but concerns remain that the company will continue opera...

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Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

Personal Tax Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

4y Alia Shoaib, Reporter

Inheritance tax is 'unfit for modern society' and ...

The report states the current system “manages the uniquely bad twin feat of being both wildly unpopular and raising very little revenue" and proposes ...

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HMRC scaling back digital projects to ‘release project capability to EU Exit work’

Brexit HMRC scaling back digital projects to ‘release project capability to EU Exit work’

4y Alia Shoaib, Reporter

HMRC scaling back digital projects to ‘release pro...

This comes months after the PAC expressed concern over the tax authority’s “risky” decision to pursue 15 major transformation programmes and over 260 ...

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Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

Brexit Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

4y Alia Shoaib, Reporter

Financial Secretary to the Treasury on cryptocurre...

Accountancy Age caught up with Mel Stride, the Financial Secretary to the Treasury, to discuss cryptocurrency, Brexit updates, the EU proposed digital...

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