News
Audit and banking, 3 July, 2018
PwC to pay $625.3m damages over collapsed US bank
The damages follow a ruling that PwC failed to design an audit to detect fraud at Alabama Colonial Bank.
Audit, 3 July, 2018
KPMG under further scrutiny over audit of booze business
Big Four audit firm faces yet another investigation of its work, this time over the collapse of wine business Conviviality.
Gearing and debt levels, 2 July, 2018
UK plc hits record debt levels
UK-listed businesses continue to borrow in order to restructure while paying out big dividends – but hauling in big profits as well – finds a debt monitor survey.
Audit firms, 2 July, 2018
KPMG chief concedes that public trust in audit is waning
KPMG’s UK head Bill Michael suggests that the audit market needs to change if public trust is to be maintained.
Regulation, 29 June, 2018
SEC accused of ‘discouraging’ executive whistleblowers
Proposals to reform whistleblowing policy in the US has met with criticism that it will focus rewards on low-ranking employees in smaller businesses, rather than big banks and large corporates.
Auditors, 29 June, 2018
Deloitte investigated over SIG audit
The FRC is to investigate Deloitte’s audit of buildings and materials firm SIG, conducted in 2015 and 2016.
Camelot board overhaul, 28 June, 2018
Ex-Olympics minister takes Camelot chair in board evolution
Sir Hugh Robertson takes chairman role, as National Lottery operator Camelot takes another step in beefing up governance and driving a return to growth.
Airlines, 27 June, 2018
Air France-KLM mulls split of CEO role
European airline Air France-KLM considers adjusting plans for the CEO’s role following internal complaints.
Executive pay, 26 June, 2018
Outgoing Carrefour chief gives up €4m of retirement package
Outgoing chief executive of French supermarket chain Carrefour, Georges Plassat, cuts his retirement package by €4m after public criticism.
Corporate governance, 26 June, 2018
French business groups adopt revised governance code
Business groups in France have opted for a tougher governance code for private companies and entrepreneurs after public criticism for big payouts to executives.