KPMG, audit, Big Four

12 June, 2018

KPMG fined over audit work at Quindell

The auditor of controversial insurance outsourcer Quindell has been fined more than £3m over its work with the client. KPMG was reprimanded and fined £4.5m (discounted for settlement at £3.15m),...
mergers, M&A, teamwork

5 June, 2018

European Court of Justice provides guidance on merger ‘gun-jumping’

Guidance on “gun-jumping”—a failure by merging parties to comply with the “standstill obligation”, which prohibits them from taking any steps to implement their merger before clearance from ...
Ashurst, M&A, corporate venture capital

18 May, 2018

Preparation key for growing trend of corporate venture capital deals

When the business pages write about venture capital they usually fail to make an important distinction. Though VC deals make for attention-grabbing headlines, it is corporate venture capital investmen...
Big Four, PwC, Deloitte, EY, KPMG

17 May, 2018

Big Four auditors ‘prepared’ if regulators push for split

The UK’s largest accounting firms are preparing themselves for a potential breakup of their offerings. After two influential committees of MPs

1 May, 2018

Aviva offers ‘goodwill payment’ to investors over preference shares

Aviva, the insurance company, has announced plans for a goodwill payment for shareholders totalling up to £14m following its controversial announcement to cancel preference shares. The payment wil...
FRC

17 April, 2018

‘Root and branch’ review of FRC launched by government

A “root and branch review” of the UK’s accounting and finance regulator is to be led by former Treasury head Sir John Kingman. The Financial Reporting Council (FRC) will have its governance, ...
FRC new website

22 March, 2018

Financial Reporting Council to face ‘competency inquiry’ by government

Accounting’s regulator faces the prospect of an inquiry into its competency by the government. Business secretary Greg Clark MP told a parliamentary committee investigating the collapse of Carill...
Carillion, FRC

20 March, 2018

Former FDs at Carillion face probe over financial statements

Two finance directors are to be investigated for their conduct in preparation of financial statements at the collapsed construction giant Carillion. Zafar Khan and Richard Adams, both former group ...
Brexit, EU, Union Jack, flags

12 March, 2018

Certainty on Brexit transition preferred over ambitious deal, say businesses

Legal certainty on a rapidly agreed transition is more valuable to businesses in the UK than a more elaborate final Brexit deal agreed later, a recent survey of CFOs and CEOs reveals. Of the 280 CE...
Carillion

29 January, 2018

Watchdog to probe KPMG over its audit of Carillion

The UK's audit watchdog is to investigate Big Four audit firm KPMG for its work on the collapsed services and construction giant Carillion. The Financial Reporting Council (FRC) announced this morn...