Insight

Audit / RSM warns of governance ‘ticking timebomb’

Following a string of high profile corporate collapses, almost all company boards expect an increase in legal and regulatory action over compliance failures

Audit / Audit regulator shakes up leadership team

The Financial Reporting Council (FRC) has overhauled its leadership team with the appointment of Simon Dingemans and Sir Jon Thompson as chair and chief executive

Tax / No deal Brexit to add £15bn to UK-EU trade red tape

HMRC has published an revised assessment of the potential cost to business of a no-deal Brexit, which estimates the ongoing administrative costs for UK-EU trade at £15bn a year with worst case scenario of up to £56 per declaration

Insight / PwC tops list for action on social mobility

PwC and KPMG have come top of a list of 75 leading UK employers who have done the most to promote social mobility in the workplace

Accounting / Marshall: Brexit impact on financial statements

Company reporters preparing year end financial statements need to take into account variable risk factors from going concern to materiality in the context of Brexit. Andrew Marshall FCA, senior technical partner at KPMG explains the key issues to consider

Insight / Family-owned businesses suffer 'trust fund syndrome'

‘Trust fund syndrome’ is gripping family-owned businesses and forcing many of them out of family ownership after two generations, warns Smith & Williamson 

Insight / BDO reports record £578m revenue post-merger

BDO has cemented its position as number five accounting firm reporting record revenues of £578m following the merger with Moore Stephens LLP earlier this year, reports Sara White

Insight / Disqualified director’s second jail term for illegally running company

A disqualified director from Birmingham has been jailed for a second time, when an Insolvency Service investigation found he was illegally running a company soon after leaving prison following a five-year sentence for operating a fraudulent financial services company

Insight / Essential tips for SMEs to get ready for Brexit

The government is ramping up its advice for companies as Brexit departure date looms with advice on employee status, professional qualification recognition and data requirements

Insight / Called to account: October 2019

In this month’s scandals, convictions and penalties, an accountant is jailed for a £140,000 fraud at a family engineering business, two Glaswegian restaurateurs banned over VAT scam, father and son sentenced in horse-box tax fraud and a foreign exchange business given a record fine for anti-money laundering rules breach

Insight / Internal fraud levels in UK worse than global average

UK companies are more likely to experience internal fraud than the global average, with internal culture failing to prioritise the risks

Insight / FTSE 350 hits 30% target for women on boards

The FTSE 350 has hit the target of having a third of board positions filled by women for the first time since the London Stock Exchange was established in 1571, according to global campaign organisation the 30% Club

Insight / Law firms tighten up anti money laundering activities

There has been a 13% drop in the number of reports submitted by accountants to the Solicitors Regulation Authority (SRA) about failings in how lawyers handle client money over the past year

Insight / People in the news: Mazars, KPMG, BDO, Price Bailey, WPP

In this week’s accountancy career moves, partner promotions at KPMG, Mazars, Armstrong Watson and BDO, and senior hires at Wilkes Partnership, Ted Baker and WPP

Insight / KPMG handles biotech, poly manufacturer administrations

Big Four firm KPMG has taken on the administrations of two companies – a medical innovation start-up and an established polythene film manufacturer – which have both collapsed putting over 200 jobs at risk
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