Wirecard’s finance chief admits forging documents after facing pressure from KPMG July 4, 2022 Wirecard’s former head of accounting has admitted forging documents, after coming under pressure to provide evidence of transactions during a special audit by KPMG. Wirecard’s ex-chief financial officer, Stephan von Erffa, told prosecutors he falsified the documents, after coming under pressure from the auditor to provide evidence of a €50m payment, according to sources speaking [...]
Consulting and finance firms hire more black candidates when using anonymous ‘skills-based’ tests in the hiring process June 26, 2022 City employers are more likely to hire black candidates if they rely on anonymised, “skills-based” assessments in the hiring process, instead of more traditional interview methods, new research shows. Finance and consulting firms hired 79 per cent more black candidates when they relied on skill-based assessments, over more traditional methods such as cover letters, group [...]
KPMG opens virtual office in the metaverse for staff in US and Canada June 23, 2022 KPMG has set up an office in the “metaverse” for staff in the US and Canada to facilitate cross-border collaboration. The Big Four firm yesterday opened its first ever “metaverse collaboration hub,” with a view to letting staff work in an “immersive” virtual world. KPMG said its new virtual office will facilitate collaboration between its [...]
KPMG strikes deal with Cambridge University to study workplace wellbeing June 21, 2022 KPMG has struck a deal with Cambridge University to let researchers come into the Big Four firm to study the impacts of its mental wellbeing initiatives. The Big Four accountancy firm’s partnership will see Cambridge University researchers allowed into the company to study workplace wellbeing – with a view to developing strategies to boost productivity, [...]
KPMG strikes deal with Alteryx to boost data analytics capabilities June 16, 2022 KPMG entered into a “strategic alliance” with California tech firm Alteryx, as part of the accountancy firm’s push to boost its data analytics capabilities. The Big Four firms’ deal with the analytics automation firm will see KPMG push forward with plans to automate its own systems, while also giving it the means to help clients [...]
Big Four accountancy firm EY considers floating advisory business on the stock exchange May 28, 2022 EY is considering listing its global advisory business on the stock market, as part of ambitious plans to separate out its audit operations to create two separate firms. The plan could see EY float its tax, consulting, and deals advice business on the stock exchange, as the firm considers breaking itself up to escape the [...]
EY working to spin off its audit business in biggest shakeup of any Big Four firm in two decades May 27, 2022 EY is working on splitting its business in two, to separate out its audit and advisory operations. The accountancy firm is planning the biggest shakeup to the Big Four in two decades, by spinning off its audit business into a separate firm, according to the Financial Times. EY’s plans come as part of ambitious efforts [...]
Exclusive: KPMG to hire 3,500 tech workers to staff newly launched digital products business May 27, 2022 KPMG today launched a new digital solutions business which is set to see the firm more than double the size of its 3,000 strong technology focused workforce by hiring 3,500 new data scientists and engineers. The UK arm of the Big Four firm said it plans to create 1,000 London tech jobs, in its efforts [...]
Accountancy firms ask for exemptions from ban on providing services to Russia May 24, 2022 Accountancy firms have asked the UK government to offer exemptions to professional services firms from rules blocking them from working with Russian clients. The calls come after the government this month set out plans to block British accountants, business consultants, and PR managers from providing their services to Russians, in response to the country’s invasion [...]
KPMG fined £3.4m over Rolls Royce audit failings May 24, 2022 Big four firm KPMG has been fined £3.4m over its audit of Rolls Royce. The company was slapped with the penalty by the financial regulator over its failings to address problems at the company in a 2010 audit. This is the fourth fine imposed on KPMG in 2022 according to the FT. The Financial Reporting [...]