Business

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

Insight / HNH launches boutique M&A advisory firm in Edinburgh

Four senior advisers from Scotland’s leading accountancy practices have set up a corporate finance office in Edinburgh offering a director-led M&A service for SMEs

Insight / HMRC sets aside extra £10m in Brexit grants for exporters

The government is ploughing more money into grants for customs intermediaries and agents to help companies prepare for Brexit

Insight / Shareholder pressure to curb excessive pensions for top bosses

Listed companies are under pressure to align executive pension contributions with the workforce, after the Investment Association (IA) said it will give a ‘red top’, its highest level of warning, to any companies with existing directors who are paid more than 25% of salary as a pension contribution

Audit / BEIS committee to investigate Thomas Cook auditors

MPs are calling for faster progress on audit reform, as the Business, Energy and Industrial Strategy (BEIS) committee launched an inquiry into Thomas Cook’s leadership and auditors EY and PwC

Insight / How to keep business and personal finances separate

Setting a barrier between business and personal finances is an essential part of turning a business from a side project into a professional operation. Lisa Hogg, director at Wilson Field, explains

Insight / People in the news: HMRC, Mercer & Hole, Haysmacintyre, EY, AAT

In this week’s accountancy career moves, partner promotions and hires at Mercer & Hole, EY and Haysmacintyre, board appointments at HMRC, and 39th president of AAT

Insight / Airline insolvency reform hits turbulence

Government pledges to overhaul the airline insolvency regime in the wake of Thomas Cook’s collapse have run into opposition

Accounting / Nissan and ex-CEO pay $16m to settle SEC fraud charges

Nissan has paid $15m (£12m), and its former CEO Carlos Ghosn has paid $1m and been given a 10-year company officer ban, to settle fraud charges brought by the Securities and Exchange Commission (SEC) relating to failure to disclose over $140m of pay and benefits

Insight / Boris bus manufacturer skids into administration

Northern Ireland bus manufacturer Wrightbus has collapsed and insolvency experts at Deloitte have been appointed to handle the administration of the company, which makes the iconic red London Routemasters and employs some 1,400 people

Audit / ICSA renamed Chartered Governance Institute

ICSA: The Governance Institute has changed its name to the Chartered Governance Institute to support the role of chartered company secretaries

Tax / Call for frequent flyer tax to tackle emissions

The government should introduce a frequent flyer tax on those who take the most flights as part of measures to ensure the UK meets its commitments to cutting carbon emissions

Accounting / FRC eyes up probe into Thomas Cook collapse

The Financial Reporting Council (FRC) is considering launching an investigation into the collapse of Thomas Cook

Accounting / Pure Circle results delayed over £24m accounting ‘issue’

Pure Circle, a manufacturer of artificial sweeteners for the global food and beverage industry, has been forced to delay its annual results, after auditor PwC unearthed a potential $30m (£24m) accounting issue

Accounting / Listed companies increase use of integrated reporting, says IIRC

The International Integrated Reporting Council (IIRC) has published its annual integrated report, stressing that there is increased use of integrated reports detailing non-financial information
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