Tax / Cup Trust charity trustee accused of 'mismanagement and misconduct'

The Charity Commission has concluded a five-year investigation into The Cup Trust, a charity involved in a complex tax avoidance scheme worth £46m, having found ‘clear mismanagement and misconduct’ on the part of sole trustee Mountstar

Accounting / NAO flags concerns over health of NHS finances

The National Audit Office (NAO) warns that the current funding model for the NHS is not sustainable, despite the government’s pledge of an additional £20.5bn cash boost, because of the existence of substantial deficits in some parts of the system and the continued failure to hit performance targets

Insight / KPMG expands Asia Pacific legal services

KPMG has launched a law firm in Hong Kong and is to open another in Shanghai later in the year as part of moves to expand its legal capabilities in Asia Pacific

Insight / SEC brings charges over $4m data hack

The Securities and Exchange Commission (SEC) is charging nine defendants who hacked into the regulator’s electronic data gathering, analysis, and retrieval (EDGAR) system and extracted non-public information to use for $4m (£3.09m) of illegal trading

Insight / EY administrators to plant hire group

Sam Woodward, Alex Williams and Hunter Kelly of EY’s restructuring team have been appointed joint administrators of plant hire company, Hawk Plant (UK) Ltd and subsidiaries, which has collapsed, putting over 400 jobs at risk

Insight / Difficulty of juggling instant wins and long-term strategies for CFOs

Today more than ever, CFOs need to provide business strategy both in the long and short term. Angela Mazza Teufer, senior vice president at Oracle looks at how they can achieve just that without letting go of the day-to-day financial oversight

Insight / Corporates boost compliance teams and technology

Over half (55%) of corporates have increased the size of their compliance teams in response to the mounting regulatory pressures that have emerged over the last five years, according to a study from Intertrust

Insight / Takeaway boss picks up second director ban

The boss of Asian-style takeaway in Cardiff has picked up a second disqualification after being caught running the business when he had already been banned for failing to pay significant amounts of tax

Insight / Football clubs drive profits with brand focus

Top European football clubs are growing their operating revenues primarily by expanding their commercial activities, despite higher staff costs, according to analysis from KPMG which suggests clubs are positioning themselves as entertainment brands as much as sporting teams

Accounting / KPMG advises Patisserie Valerie on ‘devastating’ fraud

Troubled high street café chain Patisserie Valerie has called in KPMG to help the company consider its options, after investigations found the accounting misstatements identified in October are much larger than originally estimated, with evidence of ‘devastating’ fraud and deliberate manipulation

Insight / Historic defeat risks no-deal Brexit

With 10 weeks to go before the UK is scheduled to leave the EU the Prime Minister’s failure to win approval for the terms of her withdrawal agreement by a 230-vote margin, the worst government defeat in British history, has heightened the uncertainty businesses face

Insight / Big Four global heads make top 100 CEO listing

Despite a turbulent year for the Big Four, which saw strong criticism for their executive teams from MPs, the public and the regulators, the CEOs of EY, Deloitte, PWC and KPMG all feature in a new study of the world’s 100 most reputable CEOs

Insight / Arjowiggins’ UK paper business folds up

FRP Advisory has been appointed as administrators of Arjowiggins Fine Papers, in a move which puts more than 500 jobs at risk at Stoneywood Mill in Aberdeenshire and other paper production facilities around the UK

Insight / Interim managers appointed at animal charity

The Charity Commission has appointed interim managers to The Alternative Animal Sanctuary due to continued concerns about the governance and management of the charity

Insight / Accountants look to invoice finance as client cash flow option

The majority of accountants are advising clients on potential sources of funding as their advisory role expands, although one in three cite a lack of knowledge about finance options as a barrier to making recommendations