Business &amp; Accountancy Daily

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Business | Nissan and ex-chair face charges over pay reporting

Japanese car giant Nissan and its former chairman Carlos Ghosn and an adviser, representative director Greg Kelly, have been indicted for violating the Japan Financial Instruments and Exchange Act, by making false disclosures relating to the executive’s pay in annual securities reports

10 Dec 2018

Business | Value of FCA fines down 88% in a year

The value of fines handed down by the Financial Conduct Authority (FCA) has decreased by 88% in a year, but fines for individuals have almost trebled on average, according to research from global law firm Clyde & Co

10 Dec 2018

Business | Quarter of UK workers not giving their best

UK workers are less enthusiastic about their work and less productive than their European counterparts, according to research from Deloitte which also found that almost half say their job has already been affected by automation

10 Dec 2018

Business | Outsourcer Interserve reports £600m debt

Fears are growing around the fate of Interserve, one of the biggest suppliers of services to the government, which is in financial crisis as it tries to renegotiate an estimated £600m of debt, with concerns it could collapse in a similar fashion to outsourcer Carillion

10 Dec 2018

Accountancy Firms

Business | Deloitte fires 20 partners in four years

David Sproul, outgoing Deloitte senior partner and chief executive, has highlighted the need for ‘direct and visible action’ to ensure an inclusive culture within accountancy firms, after revealing about 20 UK partners have been fired over the past four years for inappropriate behaviour

10 Dec 2018

7 Dec 2018

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Business | Grant Thornton fee income down 1.8% to £490m

Mid-tier firm Grant Thornton has reported a 1.8% drop in profits as fee income takes a hit due to continuing restructuring and hive-off of a failed IT infrastructure project, reports Sara White

7 Dec 2018

Accountancy Firms

Careers

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Business | Can accountancy firms challenge the legal profession?

As demand for legal services drives the Big Four to expand into the market, the mid-tier are slow to follow. Amy Austin, reporter at Accountancy Daily, investigates whether this shift from accountancy firms threatens the UK legal market

7 Dec 2018

Tax | Self assessment tax returns and cash flow

As people get into the Christmas spirit, self-assessment taxpayers are facing the doom and gloom of 31st January 2019 tax bill but a cash flow benefit can be achieved by getting your tax return in early, says Paul Haywood-Schiefer, tax manager at Blick Rothenberg

7 Dec 2018

HR | People in the news: Kingston Smith, Grunberg & Co, BDO

Career news this week includes a partner in Kingston Smith’s professional firms and property team, Grunberg & Co welcomes eight appointments including two apprentices and an audit and accounts manager, BDO opens applications to recruit 450 trainees

7 Dec 2018

Careers

Image for ciot warns finance bill tweaks damage confidence

Tax | CIOT warns Finance Bill tweaks damage confidence

CIOT has warned that a number of minor changes to Finance Bill 2018-19 (FB 2018-19) risk undermining the consistency depended on by taxpayers, reducing confidence and affecting international competitiveness

7 Dec 2018

Business | Serious mismanagement found at £34m charity

The Charity Commission has found serious mismanagement on the part of the former board of trustees of the charity MA 1985 (formerly Muslim Aid), including financial irregularities, according to the findings of an inquiry set up five years ago

7 Dec 2018

Business | Climate change to be key regulatory focus in 2019

The impact of climate change on financial services will be a new focus for regulators over the next twelve months, with 2019 marking a ‘seminal’ year as environmental risks come to the fore in reporting, according to analysis from Deloitte

7 Dec 2018

Business | Future accountants ‘not team players’

Accountants will need to become more opinionated and develop greater data and risk analysis skills if they want their careers to progress in future, while cultivating listening skills and being a team player are set to be less important, according to research from the Association of Accounting Technicians (AAT)

7 Dec 2018

Business | ACCA signs three-year training deal with Vistra

ACCA has signed a three-year agreement with global trust, fund administration and corporate services provider Vistra, to help the company to recruit and develop key talent and to partner on events

7 Dec 2018

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Business | Finance departments worldwide opt for AI

A quarter of finance departments expect to deploy artificial intelligence (AI) by 2020 and half will also be using predictive analytics, according to a global survey of technology and finance by research and advisory company Gartner

7 Dec 2018

Business | PwC finds pension schemes shifting investment strategy

Four in five pension schemes believe they are likely to become cash flow negative within the next five years and are considering changing their investment strategy, according to research from PwC

7 Dec 2018

6 Dec 2018

Image for walker cost implications digital services tax

Tax | Walker: cost implications of digital services tax

The digital services tax (DST) announced in the Budget will lay a heavy compliance burden on businesses, especially when it comes to UK profit margins, argues Eloise Walker, partner at Pinsent Masons

6 Dec 2018

Finance | Fraud charges against Tesco directors dismissed

The trial of two former Tesco directors on charges of fraud and false accounting, related to the discovery of a £250m ‘black hole’ in the retailer’s accounts, has collapsed after the judge dismissed the case due to lack of evidence

6 Dec 2018

Business | Shareholder rebellion repeat offenders in spotlight

Three FTSE 100 heavyweights are among 32 companies to have received a letter from the Investment Association (IA) about potential governance failures, having appeared twice on the list of those who have experienced significant shareholder revolt on the same issue

6 Dec 2018

Accountancy Firms

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Business | Hammond admits two years to prepare for no deal

Appearing before the Treasury committee, Chancellor Philip Hammond discussed the potential impact of a ‘no deal’ Brexit and what preparations the Treasury and other government departments were making to reduce the impact on taxpayers

6 Dec 2018

Law & Guidance

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Business | Nine-year ban for director over assets abuse

A businessman from Stirling has been banned for nine years for abusing a company’s assets by transferring them to help clear debts, after the company was wound up for non-payment of taxes

6 Dec 2018

Called to Account

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Tax | 37% of accountants stalling over MTD

A survey of tax professionals’ attitudes and company readiness for Making Tax Digital (MTD) for VAT shows that companies and accountants are lagging behind in their preparations and 70% are waiting for future announcements until they commit to a process

6 Dec 2018

Tax | Call to rethink tax system to tackle climate change

In the week of the annual UN conference on climate change, ACCA is calling for governments to rethink the design of the tax system holistically in a bid to counter the impact of climate change on business and society, by increasing taxes on pollution and natural resource use

6 Dec 2018

Business | EU workers protected under no deal Brexit

The government has published a policy paper on its actions to protect citizens' rights in the event that the UK leaves the EU without a deal in March next year, which outlines its proposals for EU citizens currently living and working in the UK, as well as UK citizens based in the EU

6 Dec 2018