Practice & Industry

Insight / How to turn up the LGBT voice in your workplace

Over the last decade, organisations have made huge strides in supporting lesbian, gay, bisexual and transgender (LGBT) employees and creating an inclusive workplace. Croner associate director Paul Holcroft considers how to ensure your workplace is diverse and inclusive

Insight / 56% of finance professionals against working nine to five

Four in ten (39%) finance professionals think outdated office traditions need to be abandoned, with 48.8% of workers in the sector claiming they would leave to join a more modern company if businesses failed to update the way they run their workplace

Accounting / Patisserie Valerie saved by Irish investors

Irish private equity firm Causeway Capital Partners has bought troubled bakery chain Patisserie Valerie, which collapsed into administration earlier this year following on from the earlier discovery of a £40m accounting fraud

Insight / Financial difficulties spark administration for energy broker

Andrew Johnson and Chad Griffin, senior managing directors of FTI Consulting, have been appointed as joint administrators of energy consultancy Utilitywise (UTW), which has failed to find a buyer after reporting difficulties in refinancing earlier this year and has now ceased trading, putting around 1,000 jobs at risk

Insight / Begbies Traynor makes north east acquisition

Begbies Traynor Group has acquired KRE (North East) Ltd, a Newcastle based insolvency practice in a bid to strengthen its presence in the region

Insight / KPMG to launch legal services offering in UK

KPMG International has reported record growth for its global legal services offering, and indicated it plans to extend its services this year, including in the UK where it will launch a legal consultancy arm

Insight / Company divestments gather pace

Growing numbers of companies are planning to divest businesses to gain competitive advantage, with 84% planning to do so within the next two years, according to research from EY, which says accurate performance data is key to achieving a buy-out

Accounting / US brewer’s accounting failure overstates income by £300m

US brewing giant Molson Coors is to restate its financial statements for 2016 and 2017, after the company and its auditor PwC identified a material weakness related to its accounting for a joint venture deal carried out three years ago, due to ineffective internal controls

Insight / Terrorism insurance gap closed

Business owners will now find it easier to buy terrorism insurance that will pay out if they lose custom in the wake of a terror attack because they cannot trade or are prevented from accessing their premises, following a change in the law

Tax / Call to end ‘ridiculous merry-go-round’ on RPI formula

The chairs of two influential Parliamentary select committees have stepped up their campaign to force a change in the way in which the retail price index (RPI) is calculated, to correct a statistical error which means this measure of inflation is flawed

Insight / Insolvency: investors left hanging in event of business failure

Investors in the company that owns Patisserie Valerie are looking at launching legal action over the collapse of the cafe chain, highlighting the dilemma facing investors in cases of insolvency and business failure. Mark Fletcher, senior associate and Thomas Bond, associate at Russell-Cooke consider the legal options 

Audit / Audit work set to go to tech firms

Technology companies are set to challenge accountancy firms’ traditional dominance of the audit market, as client companies start to separate their audit into separate elements, according to analysis from Source Global Research which suggests Deloitte is the front runner for embracing this change

Insight / Advice on reducing gender pay gap

The Government Equalities Office (GEO) has published two pieces of guidance, providing step by step advice for employers which helps them to identify potential causes of the gender pay gap in their organisation and develop an effective action plan to tackle it, ahead of this year’s reporting deadline

Insight / KPMG pulls plug on small business accounting service

KPMG is to close its small business accounting (SBA) service, a venture which was intended to ‘disrupt and dominate the SME market’, just five years after launching the cloud-based platform

Insight / CIOT approaches 1,000 graduate mark for international tax diploma

CIOT has announced that nearly 1,000 tax professionals have completed its advanced diploma in international taxation (ADIT), following the latest round of exams in December 2018