Practice & Industry

Insight / Leonard Curtis opens offshore office in Guernsey

Restructuring specialist Leonard Curtis Business Solutions Group has opened its first offshore office in the Channel Island of Guernsey to provide specialist insolvency services and asset protection

Insight / RDP Newmans expands SE base with Harrow merger

Two Harrow accountancy firms, RDP Newmans and S J Associates Ltd, have merged in a deal designed to expand their business across the south east

Insight / Senior business and accounting execs in birthday honours list

The deputy chair of KPMG and a senior PwC partner are among those from the world of finance and accounting named in the Queen’s birthday honours list

Insight / Deloitte racks up largest share of government’s Brexit consultancy spend

Government departments have spent at least £97m on Brexit consultancy work in the last 12 months, with almost a quarter (22%) of the business going to Big Four firm Deloitte, while PwC and EY have also picked up substantial consulting contracts

Insight / Fiona Wilkinson takes over ICAEW president role

ICAEW’s new president for 2019/20, Fiona Wilkinson, has stated she plans to use her time in office to be an ambassador for inclusion in accountancy and to rebuild the reputation of the profession after it has been slated for audit performance

Insight / Brexit uncertainty slashes UK foreign direct investment

Although the UK retained the top slot as the number one location for foreign direct investment (FDI) into Europe in 2018, there has been a significant drop in the number of inbound mergers and acquisitions as uncertainty around Brexit affects long-term decisions

Insight / Johnston Carmichael expands with Dundee opening

Johnston Carmichael, Scotland’s largest independent accountancy firm, has opened a Dundee office as part of a strategic expansion of its operations

Accounting / Deloitte acquisitions expand specialist IP and HR services

Big Four firm Deloitte has strengthened its specialist services with the acquisition of ClearViewIP, a global intellectual property (IP) consulting and transaction advisory business, as well as the UK-based HR and reward specialist Stitch Communications

Tax / Government set to review NHS pension taxation stranglehold

In response to concerns that changes to pension taxation due to reductions in the tapered annual allowance has resulted in highly paid NHS medial staff cutting their hours or retiring early, the government is to consult on way to make pensions more flexible for senior clinicians delivering frontline care, reports Pat Sweet

Audit / PwC plans audit overhaul to stave off break-up threat

In a bid to stave off demands for the break-up of Big Four audit firms, PwC plans to spend £30m a year on a significant transformation of its audit business, with a raft of measures designed to address growing concerns from regulators, but the firm will not hive off its audit business

Audit / Grant Thornton shakes up top audit team for second time

Mid-tier firm Grant Thornton has changed its audit leadership team for the second time in a year with the appointment of Fiona Baldwin as head of audit, reporting directly to the CEO, reports Sara White

Insight / KPMG partner takes leave of absence over bullying allegations

The partner at the centre of accusations of alleged bullying against team members at KPMG has stepped down as investigations continue at the Big Four firm

Insight / Investment body launched to support socially responsible saving

The government is seeking a CEO for a newly launched independent institute designed to make it easier for people to invest their money to benefit communities and society and target options that have a positive social impact

Audit / EXCLUSIVE: FTSE 250 audit fees exceed £200m for first time

Amid falling quality and a lack of competition, audit fees for FTSE 250 companies increased 6% in the last year, hitting £203.6m, in a market dominated by the Big Four audit firms, according to exclusive research by Accountancy Daily

Audit / FTSE 250 Auditors Survey 2019

In the exclusive Accountancy Daily survey of the FTSE 250, the stranglehold of the Big Four auditors on the £274m audit market highlights a complete failure to create a competitive audit market, with mid-tier firms standing on the sidelines, failing to grasp more than a handful of opportunities. Philip Smith analyses current audit fees, non-audit services and tender activity, assessing whether the market can be reformed