Practice & Industry

Audit / PwC fined $7.9m over audit independence failures

PwC is to pay $7.9m (£6.3m) to settle claims by the Securities and Exchange Commission (SEC) that the US firm and one of its partners violated auditor independence rules and engaged in improper professional conduct

Insight / Begbies Traynor Group acquires Exeter firm

Top 20 firm Begbies Traynor Group plc has acquired Regeneratus Consulting 1, an Exeter-based advisory practice specialising in restructuring, turnaround and legal issues

Audit / FRC to hear Deloitte Autonomy complaint in October

The Financial Reporting Council (FRC) has set the date next month for the hearing of a formal complaint against Deloitte and two of the firm’s audit engagement partners concerning Autonomy Corporation

Insight / Thomas Cook in liquidation with 21,000 jobs at risk

Alix Partners and KPMG have been called in as special managers to travel firm Thomas Cook, which has collapsed into compulsory liquidation with debts of £1.2bn, prompting the largest repatriation in peacetime history, and placing 21,000 jobs at risk

Tax / Fair Tax Mark to work on international accreditation scheme

Campaigning group Fair Tax Mark is to launch a research and development project looking at ways to expand its existing accreditation scheme to include businesses headquartered outside the UK, in response to fears of ‘bottom of the barrel’ kitemarks appearing

Insight / People in the news: BDO, Menzies, BTG Advisory

In this week’s accountancy career moves, hires and promotions at BDO LLP, Menzies, Johnston Carmichael, BTG Advisory and HW Fisher

Insight / Baldwins snaps up £1.6m Gardners accountants

Gardners Chartered Accountants, based in Holywell, has been acquired by the Baldwins Group which now has over 95 offices across England, Scotland and Wales

Insight / Using apps to manage your finances

Jonathan Amponsah CTA FCCA, founder of The Tax Guys, takes a look at a selection of apps to help manage business finances, keep track of accounts and maximise productivity

Insight / Smith & Williamson signs £1.8bn merger with wealth manager Tilney

Top 10 fund management and accounting firm Smith & Williamson has confirmed it is merging with Tilney in a £1.8bn deal to create an integrated group combining wealth management and professional services

Insight / Langricks merges with Michael Bell & Co accountants

Cheshire-based Langricks Chartered Accountants has acquired accounting firm Michael Bell & Co, formalising long-established ties to form a new expanded practice

Audit / Quality of local authority audit under review

Practitioners who work in the local government sector and audit community are being urged to contribute to the government’s independent Redmond review into the quality and effectiveness of local authority audit

Accounting / Regulator and government ramp up Brexit advice

With six weeks until the Halloween deadline for Brexit, the Financial Reporting Council (FRC) has written to audit committee chairs and finance directors setting out actions companies should consider in advance of the UK’s exit from the EU

Insight / Fish Partnership rebrands under Wilkins Kennedy name

The Fish Partnership has rebranded as Wilkins Kennedy after the accountancy firm was snapped up by fast growing Baldwins Group last year

Insight / PwC partners earn £765k as profitability breaks £1bn

Big Four accounting firm PwC has reported record fee income of £4.23bn as partners are set to receive a partner payout of £765,000 and group profitability breaks the billion pound barrier

Insight / Top 20 firm rebrands as Moore Kingston Smith

As part of the global rebranding of accounting network Moore Stephens, Kingston Smith is to rebrand as Moore Kingston Smith, adopting the network name for the first time