Business

Insight / Dealing with work relationships

Christmas parties during the festive season are popular with most accountants and tax advisers, but do not let behaviour cross the line and consider whether relationships at work should be declared, says Simon Wright, managing director of CareersinAudit.com

Insight / Andersen Global adds fourth UK firm

Andersen Global, the international association of tax specialist firms set up by former Arthur Andersen staffers, has added a fourth UK firm, announcing a collaboration with Claritas Tax Ltd, a tax advisory and compliance services firm based in Birmingham

Insight / Mobile phone boss rings up 10-year ban

A Glasgow mobile phone boss who submitted false tax returns and fake accounts, resulting in non payment of over £500,000 in tax, has been banned for ten years following an Insolvency Service investigation

Insight / KPMG International posts record $29bn revenues

KPMG International has announced record aggregated network revenues of $29bn (£22.9bn) for the fiscal year ending 30 September 2018, with a 7.1% increase on the previous year in local currency terms

Insight / NAO critical of BBC’s 45% Eastenders overspend

The BBC has failed to deliver value for money in its programme to build a new set for the TV soap EastEnders, according to a report by the National Audit Office (NAO) which said the broadcaster underestimated aspects of complexity, cost and risks of its approach, resulting in a 45% budget overspend

Insight / Big Four disclose 37 partners fired in four years

EY, PwC and KPMG have followed Deloitte’s lead in disclosing that they have also recently fired partners over accusations of bullying and sexual harassment, in what is being seen as a move to encourage a more inclusive culture at the Big Four

Insight / CMA to push for pension management reform

The Competition and Markets Authority (CMA) has announced a range of reforms to the investment consultancy sector, following a market investigation undertaken at the request of the Financial Conduct Authority (FCA)

Audit / PwC in auditor driving seat at Eddie Stobart

Eddie Stobart, one of the UK’s leading supply chain, transport and logistics companies, has announced it has appointed PwC as its new auditor, replacing KPMG

Insight / IAESB consults on updating tech education standards

The International Accounting Education Standards Board (IAESB) has launched a consultation on possible changes to international standards for the teaching of IT skills, following increased demand for proficiency and the disruptive effects of new technology in many sectors

Accounting / Jersey opens up US-style LLC status for companies

James Willmott, partner at Carey Olsen, examines Jersey’s recent decision to allow the creation of limited liability companies (LLCs), which will allow the island to attract more US-based clients and offers more flexibility than the current partnership status based on English law 

Insight / BDO global network revenues hit $9bn

BDO saw a global combined fee income from its international network of independent member firms of $8.99bn (£7.13bn) for the year ended 30 September 2018, representing a year on year growth of 10.7% in US dollars and 8.3% at constant exchange rates

Accounting / Crackdown on abuse of Scottish partnerships for money laundering

The government is to take action on the abuse of Scottish limited partnerships (SLPs) with a package of measures designed to introduce more stringent checks and greater transparency, including closer monitoring by Companies House

Insight / SME late payment costs swell to £6.7bn

The costs SMEs face in collecting late payments have rocketed, up from £2.6bn a year ago to £6.7bn currently, according to research by Bacs Payment Schemes (Bacs), part of UK retail payments authority Pay.UK

Insight / Charity Commission alert on think tanks

The Charity Commission has issued an alert to remind trustees of their legal obligations and duties in relation to think tanks which have charitable status, pointing out that these are generally established for educational purposes and the charity must be politically neutral

Insight / Deloitte fires 20 partners in four years

David Sproul, outgoing Deloitte senior partner and chief executive, has highlighted the need for ‘direct and visible action’ to ensure an inclusive culture within accountancy firms, after revealing about 20 UK partners have been fired over the past four years for inappropriate behaviour
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