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Image for fca investigating tsbs it meltdown

Business | FCA investigating TSB’s IT meltdown

The Financial Conduct Authority (FCA) has made public its intention to investigate the TSB jointly with the Prudential Regulation Authority (PRA), over the bank’s failed IT migration project and its lack of openness and transparency about the issues experienced, which saw up to 1.9m people lose online access to their accounts for long periods

6 Jun 2018

Accountancy Firms

AI & Technology

Image for pwc and kpmg oppose all male candidate shortlists

Business | PwC and KPMG oppose all-male candidate shortlists

PwC and KPMG have both indicated that they will no longer accept all-male lists of applicants for jobs in the UK in an attempt to increase the number of women in senior roles

5 Jun 2018

Accountancy Firms

Leadership & Management

Image for kreston reeves merges corporate finance specialist

Business | Kreston Reeves merges with corporate finance specialist

Kreston Reeves has signalled its intention to grow its corporate finance practice with the announcement of a merger with Surrey-based boutique specialist SamCorp and the appointment of Jack Clipsham as corporate finance partner

5 Jun 2018

Accountancy Firms

Image for record ps400m money laundering fine australias biggest bank

Finance | Record £400m money laundering fine for Australia’s biggest bank

The Commonwealth Bank of Australia (CBA), Australia's largest lender, is to pay a record A$700m (£400m) fine for breaching anti-money laundering (AML) and counter-terror financing (CTF) laws over several years, after an investigation found the bank had failed to report millions of dollars of suspect transactions

5 Jun 2018

Financial Reporting

Accountancy Firms

Image for artificial intelligence and machine learning accountancy part 1

Finance | Artificial intelligence and machine learning in accountancy - part 1

Much of day-to-day accounting, and in particular audit, involves dull repetitive tasks such as inventory and general ledger checking but such drudgery is apparently set to become a thing of the past with the advent of artificial intelligence (AI) and machine learning. Rob Munro reports

5 Jun 2018

Corporate Governance

Accountancy Firms

Image for 57 governance professionals oppose increase frc powers

Finance | 57% of governance professionals oppose increase in FRC powers

There is strong opposition to plans to increase the Financial Reporting Council’s (FRC’s) powers of enforcement, according to a survey by ICSA: The Governance Institute, which found over half of governance professionals do not want to see a wider remit for the regulator

4 Jun 2018

Corporate Governance

Accountancy Firms

Image for kpmg south africa cuts staff and reshapes firm

Business | KPMG South Africa cuts staff and reshapes firm

KPMG South Africa is to cut employee numbers by around 400 and bring in senior KPMG partners from across the firm’s international network in a bid to reshape the business following a series of crises over the past year

4 Jun 2018

Accountancy Firms

Image for treasury consults pre paid funeral plan sector

Business | Treasury consults on pre-paid funeral plan sector

The Treasury is to consult on tougher regulation for the pre-paid funeral plan sector, including proposals to bring the market into the supervision of the Financial Conduct Authority (FCA), in a bid to protect grieving and vulnerable people from aggressive sales tactics and poor financial advice

4 Jun 2018

Accountancy Firms

Image for growing shareholder challenge ftse 100 pay

Business | Growing shareholder challenge to FTSE 100 pay

Shareholder protests against excessive executive pay deals are increasing, with a quarter of FTSE 100 companies receiving more than a 20% vote against a pay resolution, three times as many as in 2017, according to a mid-season report from PwC

4 Jun 2018

Accountancy Firms

Leadership & Management

Image for underwood accounting practices toying consolidator model

Business | Underwood: accounting practices toying with consolidator model

Consolidation is alive and active in the accounting sector with a number of recently completed deals looking not too dissimilar to the consolidations of the early 2000s. Keith Underwood, managing director of Foulger Underwood, considers various consolidator models

4 Jun 2018

Accountancy Firms

Image for outrageous attitude women boards

Business | ‘Outrageous’ attitude to women on boards

Just one in five individuals being proposed for senior financial services positions are women according to research by Pinsent Masons, while the Department for Business, Energy and Industrial Strategy (BEIS) has described some of the reasons given for low levels of female representation on FTSE 350 boards as ‘outrageous’

1 Jun 2018

Leadership & Management

Image for development updates june 2018

Business | Development updates: June 2018

In the latest career development updates, Mazars reports record £174m fee income, Andersen expands UK tax arm, parental pay and sex discrimination issue, pensions regulator to take pub chain to court over scheme

1 Jun 2018

Accountancy Firms

Image for ftse 250 auditors survey 2018 turning heat audit firms

Finance | FTSE 250 Auditors Survey 2018: turning up the heat on audit firms

Big Four dominance of the £269m FTSE 250 audit market is under fire as MPS set alight competition and mid-tier firms fail to gain market share. In the annual Accountancy FTSE 250 auditors survey, Philip Smith examines the latest trends in audit fees and the lack of competition from outside the Big Four

31 May 2018

Corporate Governance

Image for company voluntary arrangements need be reformed protect creditors

Finance | Company voluntary arrangements need to be reformed to protect creditors

The rules on company voluntary arrangements, a common High Street insolvency procedure, need to be reformed to prevent abuse of the procedure which allows companies to restructure debt instead of going into administration

30 May 2018

Financial Reporting

Accountancy Firms

Restructuring & Insolvency

Leadership & Management

Image for hammered homebase sold hilco ps1

Finance | Hammered Homebase sold to Hilco for £1

Struggling DIY chain Homebase has been sold to retail restructuring firm Hilco for a £1 after only two years under the ownership by Australian giant Wesfamers

30 May 2018

Financial Reporting

Accountancy Firms

Image for wilkins kennedy merges m r salvage

Business | Wilkins Kennedy merges with M R Salvage

Wilkins Kennedy is to merge with M R Salvage Ltd, creating a combined firm with over 700 staff and partners with an expected turnover in excess of £55m

25 May 2018

Accountancy Firms

B&ADTV

Croner Intelligence versus Generative AI

People with significant control

Croner Intelligence: a day in the life

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