Regulator fines PwC £95m over Chinese Evergrande audit April 23, 2026 The Hong Kong regulator fined PwC Hong Kong a landmark HK$1bn (£95m) for its role as auditor for the now-liquidated property giant, China Evergrande Group. Back in Janaury 2023, PwC resigned as Evergrande’s auditor following a series of disagreements with the heavily-indebted property developer over its audit of the firm’s 2021 accounts. This came after [...]
MHA chief: Private equity rivals are struggling — ‘we’re really well positioned’ April 14, 2026 Wednesday marks one year since the UK and Ireland’s arm of Baker Tilly International, MHA, rang the bell at the London Stock Exchange. The advisory group didn’t pick an ideal time to list. Though it seems like a lifetime ago, the markets were also riddled with uncertainty. Weeks before MHA went public, Trump had his [...]
As the Big Four cut back on staff BDO is building its own pipeline – from school April 7, 2026 As the accountancy sector faces a “perception problem” among younger talent, advisory giant BDO is moving the goalposts by engaging school-level students. Speaking to CityAM, Louise Sayers, audit partner and head of audit, people and culture at BDO, explained that when it comes to attracting new talent, the sector does not have an image problem [...]
Deloitte confirms tax head to replace Richard Houston March 30, 2026 Big Four giant Deloitte has selected Darren Graves to succeed Richard Houston, who is stepping up to lead the newly created Deloitte EMEA unit. Graves will be the next senior partner and chief executive from June, after winning a confirmatory vote by the firm’s partners. However, according to media reports, he was put forward as [...]
EY’s legal provisions balloon 300 per cent as audit battles mount March 27, 2026 Big Four giant EY has reported a surge of over 300 per cent in its legal provisions, as the firm grapples with the fallout of high-profile audit failures and regulatory crackdowns. According to the firm’s latest results on Companies House, EY didn’t just add a small buffer; it added £188m in new claims-related charges in [...]
Brits fleeing Dubai could trigger ‘surprise’ UK tax bills March 16, 2026 British expats returning to the UK from the Middle East over safety concerns as a result of the war in Iran could face “hidden tax costs”. The British expat population in the UAE is among the largest outside the UK, with estimates of 130,000 to 240,000 British nationals living and working in Dubai and Abu [...]
Accountancy firms lag behind legal firms in gender equality at top level March 3, 2026 The UK accountancy sector is lagging in diversifying its leadership, with only half of firms having at least one woman at the board or partnership level. According to data exclusively shared with CityAM by Lubbock Fine, UK accountancy firms are lagging behind legal firms in the proportion of women at the senior level. The [...]
Accountancy firms face margin squeeze as AI disrupts compliance services February 25, 2026 Most UK accountancy firms admit margins on traditional compliance services are under pressure from automation, as professional services firms rethink strategies in the age of AI. According to a report shared exclusively with CityAM by Ravical, while most British firms believe margins have increased over the last three years, the majority (63 per cent) [...]
Financial Reporting Council chair Sir Jan du Plessis to retire February 11, 2026 The chair of the audit watchdog, Sir Jan du Plessis, has announced his intention to step down from the role at the end of September, when he will retire from corporate and public life. Over his career, the businessman has served as non-executive chairman of BT Group, non-executive chairman of Rio Tinto Group, and as [...]
Professional services firms facing ‘polycrisis of confidence’ January 28, 2026 A major study of C-suite attitudes among professional services firms has revealed a complicated landscape of increasing AI use, growth fears, worries about cash flow and concerns over staff motivation. According to the Managing Partners Forum Winter 2025 Quarterly, shared exclusively with CityAM, all firms surveyed have integrated Gen AI into their daily operations, but [...]