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Image for pwc officially appointed administrators conviviality

Business | PwC officially appointed as administrators at Conviviality

Matthew Callaghan, Ian Green and David Baxendale of PwC have been appointed as joint administrators to alcohol wholesaler and retailer Conviviality, which has been in difficulties ever since the company identified a ‘material error’ in its financial forecasts and an unexpected £30m tax bill earlier this year

6 Apr 2018

Accountancy Firms

Restructuring & Insolvency

Image for big fours average bonus pay gap hits 51

Business | Big Four’s average bonus pay gap hits 51%

Recently published gender pay gap data shows Big Four firm, PwC, as the worst performer while smaller firm, Bishop Fleming, comes out on top with the lowest mean pay gap out of the top 25 accounting firms although average bonus data shows a large disparity across the profession, reports Amy Austin

6 Apr 2018

Accountancy Firms

Leadership & Management

Image for small business demand drives asset based lending

Business | Small business demand drives up asset-based lending

Invoice finance and asset-based lending in the UK and Ireland continues to gain traction, rising to £23.4bn at the end of 2017, a 5% increase on the previous year, and driven largely by increased lending to small businesses

5 Apr 2018

Image for frc lab seeking ai project participants

Business | FRC lab seeking AI project participants

The Financial Reporting Council’s (FRC) financial reporting lab is seeking representatives of listed companies, investors/analysts and technology experts to participate in a project looking at the impact of the technology in the production and consumption of corporate reporting

5 Apr 2018

Accountancy Firms

AI & Technology

Image for hull based plastics specialist administration

Business | Hull-based plastics specialist in administration

Andrew Mackenzie, Julian Pitts and Gary Lee of Begbies Traynor have been appointed as joint administrators to Plasticon UK Ltd, a Hull-based manufacturer of storage tanks and industrial piping which has been suffering financial difficulties

5 Apr 2018

Restructuring & Insolvency

Image for sme share option scheme hangs balance

Tax | SME share option scheme hangs in balance

A £380m scheme designed to broaden SME employee ownership risks going into limbo, as EU state aid approval for the enterprise management incentive (EMI) share option scheme expires today, and HMRC has admitted it is not currently known when and on what terms the EU will renew its approval

5 Apr 2018

Image for gig economy and technology challenge workforce strategy

Business | Gig economy and technology challenge workforce strategy

Companies need better strategies to manage the growing use of ‘non-traditional’ labour, including freelancers, contractors and ‘gig’ employees, while technology is changing the nature of the skills required in all sectors, including accountancy, according to two recent surveys

4 Apr 2018

Accountancy Firms

AI & Technology

Image for what companies should do improve their gender pay gap

Business | What companies should do to improve their gender pay gap

Today is the last day for private companies to report their gender pay gap ahead of tomorrow’s deadline, but employers need to ensure they do not put the pay gap issue to one side once the deadline passes, warns Suzanne Tanser, reward business manager at Croner

4 Apr 2018

Accountancy Firms

Image for quantuma acquires insolvency practice

Business | Quantuma acquires insolvency practice

Corporate recovery and business advisory firm Quantuma has acquired a south coast insolvency practice, Ashtons Business Recovery Ltd

3 Apr 2018

Accountancy Firms

Image for brexit uncertainties hit mid sized business investment plans

Business | Brexit uncertainties hit mid-sized business investment plans

With a year to go until Brexit begins, three quarters of UK mid-sized businesses say no clearer picture is emerging of the future UK/EU relationship and almost a third have put investment plans on hold in response, according to research by BDO

3 Apr 2018

Image for kpmg called collapsed engineering company

Business | KPMG called in to collapsed engineering company

Blair Nimmo, Tony Friar and Stuart Irwin of KPMG have been appointed as joint administrators of Vaughan Engineering Ltd (VEL), which was a supplier to collapsed outsourcing company Carillion and has now ceased trading with the loss of over 150 jobs

3 Apr 2018

Accountancy Firms

Restructuring & Insolvency

Image for audit rotation creates barrier non big four firms says gt chief

| Audit rotation creates barrier for non-Big Four firms, says GT chief

Mandatory audit rotation hinders competition and creates barriers for mid-tier firms with fees hitting £300,000 for tenders, says Robert Hannah, chief operating officer at Grant Thornton, as the firms pulls out of bidding for FTSE 350 audits in the future, reports Amy Austin

29 Mar 2018

Accountancy Firms

Image for grant thornton pulls out bidding ftse 350 audits

| Grant Thornton pulls out of bidding for FTSE 350 audits

Mid-tier firm Grant Thornton UK has made a strategic move away from tendering for statutory audit work in the FTSE 350, citing the difficulty of taking on the Big Four’s dominance in this area

29 Mar 2018

Accountancy Firms

Image for booze supplier conviviality brink administration

Business | Booze supplier Conviviality on brink of administration

Conviviality, the wholesaler and distributor of alcohol and impulse products, has announced it intends to appoint administrators, putting some 2,500 jobs at risk at the company which has recently reported identifying a ‘material error’ in its financial forecasts and an unexpected £30m tax bill

29 Mar 2018

Accountancy Firms

Restructuring & Insolvency

Image for ey driving administration failed vehicle hire business

Business | EY driving administration at failed vehicle hire business

Colin Dempster, partner, and Fiona Taylor, associate partner, of EY’s restructuring team have been appointed joint administrators of commercial vehicle hire, sales and services business T.O.M. Group Ltd, which has ceased trading with the loss of over 400 jobs

29 Mar 2018

Restructuring & Insolvency

Image for development updates april 2018

Business | Development updates: April 2018

In the latest career development updates, auto enrolment costs double for employers, Big Four partner pay gap data shows major disparity, Milsted Langdon expands into Bristol, deadline for gender pay reporting

29 Mar 2018

Accountancy Firms

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