Business

Insight / BEIS wants public register of foreign owners of UK property

Foreign companies owning UK properties will have to reveal their ultimate owners on the world's first public register, or face up to five years in jail for concealing the identify of those using shell companies, as part of a crackdown on money laundering

Insight / Administrators grill Gaucho steak chain

Matthew Smith and Robert Harding, partners from Deloitte, have been appointed joint administrators of Gaucho Grill Ltd, Gioma (UK) Limited and Cau Restaurants Ltd, the operators of a chain of restaurants specialising in Argentinian steaks which has collapsed, putting over 1,200 jobs at risk

Insight / What is wrong with unpaid internships?

With graduates struggling to enter employment after completing their studies, internships and work experience placements are essential but is it wrong that so many businesses do not pay their interns? Gudrun Limbrick, lead consultant at Word Works, looks at how the Taylor Review and government are trying to change this

Insight / Deloitte creates Asia Pacific firm

Deloitte is to create a new entity, Deloitte Asia Pacific, bringing together its geographies in Australia, China, Japan, New Zealand and Southeast Asia, with the aim of increasing its services and presence in the region, which it says is the fastest-growing area of its network

Insight / BDO South Africa to merge with Grant Thornton

BDO South Africa has announced it is to merge with Grant Thornton Johannesburg, with the aim of creating the country’s leading mid-tier audit firm

Insight / Godfrey-Billy: artificial intelligence will set accountants free

With artificial intelligence (AI) and automation threatening to change the face of the accounting profession, Kirsty Godfrey-Billy, chief accounting officer at Xero, asks how technology will reduce repetitive tasks and improve controls

Insight / Government wins vote on leaving customs union

In a tense evening of voting, the government has seen off attempts to alter its agreed post-Brexit trade strategy, with the defeat of an amendment which sought to insist the UK should be forced to join a customs union with the EU if no agreement were reached on frictionless trade by 21 January 2019

Tax / £20bn fund for NHS will raise taxes

The Office for Budget Responsibility (OBR) is warning that the Prime Minister’s recent pledge to increase spending on the NHS is likely to put significant pressure on public finances, placing public sector net debt on an ‘unsustainable upward trajectory’, unless the government introduces future tax rises or spending cuts

Insight / FTSE 350 senior level gender diversity flatlining

Corporate UK is missing out on a £13bn ‘gender dividend’ because companies are still failing to get enough women into top roles, with no real progress since 2016 and just 16% of FTSE 350 executive committees female, a proportion which has not changed in two years, according to research from diversity consultancy the Pipeline

Insight / Single financial guidance body CEO announced

The Department for Work and Pensions has appointed John Govett as the first chief executive officer of the new single financial guidance body (SFGB), which will bring together three existing money and pension advice services

Insight / KPMG sells loan portfolio advisory business

KPMG has sold its portfolio solutions group business, which specialises in advising financial institutions in relation to non-performing and non-core banking assets worldwide, to Alantra, a global investment banking and asset management firm

Insight / Finance Mole: don’t take it personally

Finance Mole is unnerved when buyers from the other side of the pond start to take control out of his hands plus, Sir Philip Green fights back against the FRC's BHS audit fine, FRC has control taken away from it when an embargo is broken

Insight / Government plans to leave Single Market and Customs Union

Following Cabinet discussions at Chequers, the government has now issued a detailed policy paper setting out its commitment to leave the Single Market and Customs Union post Brexit, although it is looking for regulatory equivalence across a number of areas, including audit and accounting standards, and financial services

Insight / Airline insolvency review publishes interim findings

The government’s airline insolvency review, set up in the wake of the collapse of charter operator Monarch last year, has published its interim report setting out its early conclusions and emerging thinking, which include changes to the insolvency regime

Audit / Artificial intelligence and machine learning in mid-tier firms - part 2

Rob Munro explores the challenge to mid-tier firms posed by artificial intelligence, machine learning and blockchain as theses smaller firms struggle to compete with the Big Four who have the financial backing to invest heavily in these developing technologies
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