Regulator opens triple investigation into KPMG and PKF Littejohn for audit work on Prax Group companies, and unnamed accountant, in run-up to collapse of oil refinery with millions in debt

Head of Making Tax Digital says HMRC has not yet decided how it will bring £30,000 cohort into quarterly reporting as officials weigh future role of automatic enrolment, stressing accountants still have major role to play

Eriona Bajrakurtaj, chief executive of Majors Accounts, says AI will not replace accountants, but firms need to prioritise the development of young professionals with a shift in the training mindset